EUR/USD breaks higher, with further upside looking likely
EUR/USD has punched into a new two-month high this morning, following on from a sharp appreciation on Friday. With a shallow pullback this morning, we can look for short-term upside play, utisiling the close proximity of the recent swing low to enable a strong risk-to-reward trade.
As such, while the price remains above $1.1912, another leg higher looks likely from here. A move back below that level would point towards a retracement of the move up from $1.1836.