The EURUSD surged higher today, breaking above both the 2023 swing high and the 61.8% retracement of the decline from the 2020 high — a key level near 1.1271. That breakout sparked strong upside momentum, sending the pair to a session high of 1.1473, just shy of the swing resistance zone between 1.1482 and 1.1516.
However, sellers leaned against that resistance, and the pair has since rotated back to the downside.
The current price is trading near 1.1328, with the recent low dipping to 1.1311, bringing it closer to the broken 61.8% retracement and prior 2023 high at 1.1271 — now a critical support zone.
What to watch
Hold above 1.1271 → Keeps bullish momentum intact and validates the breakout
Break back below 1.1271 → Signals a failed breakout and opens the door for a deeper pullback toward prior consolidation levels
The bulls had their shot. To stay in control, they need to defend 1.1271 — or risk handing the reins back to sellers.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about eurusd backs off after approaching topside target key support eyed on the retracement was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( EURUSD backs off after approaching topside target. Key support eyed on the retracement. )
Also on site :
- Who Is Anthony Kazmierczak? Ilhan Omar Attack Suspect Identified
- Bobby Bones Is Barely Recognizable After Rescuing a Stranger During Winter Storm Fern
- 2000s Heavy Metal Band Aims for ‘Suspended Illusion’ on Its 20th Anniversary Tour