The EURUSD hits a new high. Test July low at 0.99515

EURUSD is heading for a new session high and in doing so is testing one of my old favorite levels. The 0.99515 level. This level was the July low after the price broke below the parity level for the first time. In September, the price moved lower to test it, before falling to the cycle low of the year. Last month, the pair also used the level as a risk-defining target.

We are testing it. A move above would lead traders to look towards the parity level and then down the 100-day MA at 1.00515. Hold below and traders will look to 0.9898.


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