The EURUSD has surpassed the 2024 high of 1.1213, reaching 1.1228, while the current trading price is 1.1203. Buyers must maintain momentum, and the swing high of 1.11459 from early April serves as a potential risk level for continued upward movement.
If the price falls below this level, it may signal a failure to sustain the upward trend. Another significant risk area is the 1.1089 – 1.1106 swing level. The next target for upward momentum is the 2023 high, set at 1.12709.
Euro 2024 Peak Analysis
With the euro edging above the 2024 peak to 1.1228 before dipping slightly to 1.1203, the pair has flipped a key psychological threshold. Price action coming off early April’s swing high at 1.11459 must now be monitored closely. That level isn’t just a minor pullback—it marked a shift in directional bias earlier this year. A return to trading beneath it would suggest that recent bullish momentum is slipping. That sort of failure can quickly attract additional selling, especially from those who entered late during the breakout attempt.
The second nearby pressure point lies within the tight range between 1.1089 and 1.1106. During past rallies, that area slowed upward progress and has now taken on added weight. Should selling accelerate, we’d look towards this bracket for signs of either stalling or further breakdown. If price can’t hold there, it weakens the bullish thesis laid out by recent action, particularly after such a firm test of the 2024 highs. It’s essential to consider that market participants are highly reactive around prior inflection zones—levels that have previously pushed price away with force.
As for expectations on a continued run higher, attention has naturally shifted to the 2023 peak at 1.12709. It’s not simply a round number or line on the chart—it capped upside for an extended period last year. Markets remember these ceilings, even months later, and interaction with that level tells us a great deal about current appetite. If the pair manages another upward push that doesn’t stall below that mark, it opens the door for trending structures to breathe longer.
Market Exposure Strategy
Given this backdrop, we view short-term corrections as normal but not necessarily alarming unless the decline intensifies beyond the 1.1145 anchor. From a trading desk viewpoint, the recent attempt to breach fresh highs confirms that positioning remains weighted toward buying pressure, although the inability to hold over 1.1220 requires some caution near the top of range expansions.
Volatility has been largely contained, but risks are skewed asymmetrically. If challenged downside levels don’t hold, the reaction among leveraged accounts could turn sharper. But for now, while support zones remain intact, directional frameworks lean towards the upside—just with measured steps and well-defined limits.
Ideally, market exposure should be structured around breaks or sustained holds, not snapshots or single-candle excitement. Directional conviction must be paired with defensible levels. Watching the interplay between round-number resistance and strong-tested floors will help shape cleaner trades in the days ahead.
