EUR/USD breaks above 1.1275 swing area to set new daily highs
EUR/USD has pushed convincingly above the key 1.1266-1.1275 swing zone and the 38.2% Fibonacci retracement of the April-May decline at 1.1275, reaching a new daily high. The decisive breakout signals strengthening bullish momentum and a potential continuation of the uptrend. Yesterday's high at 1.1288 now acts as the immediate upside target. A sustained break above this level could open the door for a test of the 1.1300 psychological barrier. However, failure to maintain gains above 1.1275 might lead to a retracement back towards initial support at 1.1250.
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