Euro Breaking Out Off Previous Highs, Further Gains Likely

The euro currency is rising back following a pullback from the earlier session.

Price action broke past the previous highs near 1.0905. This could potentially confirm further upside that could push prices toward the resistance level of 1.1055 and 1.1030.

To the downside, we could expect the price level near 1.0905 will be coming out as support in the short term.

But a breakdown below this level will signal a move back to the 1.0787 level.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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