The USD has decreased by 1.35% against the EUR, with U.S. equities and bond prices dropping. Consequently, EURUSD broke above the swing area between 1.1482 and 1.15158, reaching its highest point since November 2021.
This former resistance level now serves as close support. Maintaining a position above this range might encourage additional upward movement.
Daily Chart Target
On the daily chart, the next target for buyers is 1.1665 to 1.16926. This area, like the current breakout zone, might temporarily hinder bullish progress.
At present, the key technical support is 1.1482–1.15158. As long as the pair remains above this threshold, the direction for EURUSD is oriented upward.
What we’ve seen so far is a clear break of an earlier barrier that had capped price action for years. The EURUSD pair—now above its previous swing area—suggests a forward momentum that’s unlikely to reverse unless fresh selling pressure materialises with surprising strength. An advance through such a hard-fought zone usually indicates wider interest backing the move, not simply a wave of short-term positioning.
Given the move, the underlying assumption is that buying interest remains intact, at least while price trades above the 1.1482–1.15158 area. This level, essentially, now acts as a foundation. If this zone is retested and holds, that would likely reinforce the view among trend participants that the push higher is being accepted, not rejected.
Future Price Expectations
Looking further afield, we see 1.1665 to a little under 1.17 as the next area where price may slow. Not necessarily reverse, but slow. It’s a zone with prior congestion, which often becomes sticky again when price returns. There isn’t anything particularly exceptional about this target from a macroeconomic standpoint—it’s more technical in nature, lining up with volume-based zones and past turning points. That doesn’t reduce its potential to affect flow, however, and we should approach it with care. The failure to hold or push decisively through it in the first encounter would not surprise.
From a positioning point of view, we should expect some attempt to defend this next battleground by earlier sellers who were caught off-guard by the breakout. They may try to re-enter, assuming price is stretched. But unless fresh data alters interest rate expectations materially in favour of the dollar, these sellers face an uphill task.
The U.S. equity and bond picture gives the same directional cue. With benchmark indexes softening and yields ticking higher, capital may look to other havens or areas offering better carry potential. This is the sort of environment in which even small shifts across assets can reinforce directional trends across FX pairs.
So while we avoid overstating certainty, the current structure makes things clear. Stay above the former resistance, and opportunities remain skewed in favour of additional upside. Keep an eye on how price reacts if it returns to the zone just broken through—quick rejection back higher could provide a secondary signal of ongoing demand. If, however, a move back below 1.1482 occurs with rising volume and momentum, assumptions need reassessing. Updated levels and rebalancing of positions may then have to follow.
And while short-term volatility can add confusion, we must continue to read price levels in light of what they’ve done and what they might now offer. Traders should let these technical zones dictate what’s rational rather than forecast from gut feeling. Watching where participants respond—in price and in volume—remains the sharpest tool available for the job ahead.
