EURUSD breaks above key 2021 swing zone, hits highest level since September 2021 ...Middle East

If buyers are to remain firmly in control, both short- and longer-term, the pair will need to hold above this breakout zone. A failed break below 1.1663 to 1.1691 would likely lead to buyer disappointment and could trigger a reversal or consolidation phase.

Drilling into the hourly chart, the price has shown strong support at the top of the broken swing area. Each corrective dip since the breakout has held above the 1.1663–1.1691 region, reinforcing the zone's newfound role as support. The most recent pullback has so far held near 1.1691—a best-case scenario for bulls looking to defend the breakout and build further upside momentum.

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

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