EURUSD races above swing area topside target with little resistance

EURUSD Technical Analysis: Bullish Breakout Continues Toward Key Resistance

EURUSD is extending its upside momentum, breaking above the key swing area between 1.0452 and 1.0467 with little resistance. This breakout has triggered follow-through buying, pushing the pair to a session high of 1.0494.

The next major resistance level to watch is 1.05137, last week’s high, where the price previously stalled before reversing lower. Notably, yesterday’s bounce off the 38.2% retracement of the February range and the 200-hour moving average provided a strong foundation for buyers. That successful hold has now translated into a bullish continuation, reinforcing upside momentum.

Key Technical Levels:

• Resistance: 1.05137 (last week’s high)
• Support: 1.0467 – 1.0452 (broken swing area, now potential support)

As long as EURUSD holds above the breakout zone, buyers remain in control with sights set on a retest of 1.05137.

This article was written by Greg Michalowski at www.forexlive.com.