EURUSD upside favoured as yield spread diverges
One key driver for the recent EURUSD strength has been the fact that the US 10 year Treasury bond yield is falling while the German bund is rising.
This divergence in the bond yield spread is a support for further EURUSD upside. The yield spread is marked on the chart below (orange line). Notice how it tracks EURUSD. Essentially you can use the spread as a 'risk profile tool' that allows you to compare currency markets on a macro scale.