The EURUSD has continued its move to the upside and trades to yet another new high at 1.11377. That has taken the price above the high of a swing area between 1.1094 and 1.11346. The next upside target comes against swing lows and highs from November and March near 1.1184. Above that is the 61.8% retracement of the move down from the January 2021 high. That level comes in at 1.12740.
Close risk for traders would be a move back below 1.10942. That was the high price for the year coming into today.
This article was written by Greg Michalowski at www.forexlive.com. Source