EURUSD is breaking to new highs for the year and going back to 2021. What next? ...Middle East

The price extended above highs from June between 1.1614 to 1.16297. The high price extended to 1.1641 so far. That represents the highest levels going back to October 2021. With the break, the next key target area comes between 1.1663 and 1.16916. That area corresponds with swing lows and swing highs going back to April 2021 through November 2021 before the pair started a trend-like move to the lows reached in September 2022.

Additional support would then be focused on the 1.1578 level, where the price based earlier today at session lows. It was also a swing high going back to last week (on June 17).

This article was written by Greg Michalowski at www.forexlive.com.

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