EURUSD breaks higher and traded to highest level going back November 2021
The USD is down 1.35% against the EUR today, as U.S. equities decline and bond prices fall. In the process, EURUSD has surged above a key swing area between 1.
The USD is down 1.35% against the EUR today, as U.S. equities decline and bond prices fall. In the process, EURUSD has surged above a key swing area between 1.1482 and 1.15158, pushing the pair to its highest level since November 2021.
That former resistance zone now turns into close support. If the price can hold above it, further upside momentum is likely.
On the daily chart, the next major target for buyers lies in the 1.1665 to 1.16926 area. Similar to today's breakout zone, that region could slow bullish momentum temporarily.
For now, 1.1482–1.15158 is the key technical support to watch. As long as the pair stays above it, the path of least resistance remains to the upside for EURUSD.
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