The June highs finally gave way and EUR/USD broke out to the highest since February 20. I set the stage for the breakout in a post a few minutes ago.
EURUSD daily chart
The break clears out all the major resistance on the chart, leaving the 2013 high of 1.3711 as the target. In the near-term, there is rumored barrier at 1.3750. A better place to look for near-term direction might be EUR/JPY. The pair has shot up 70 pips to 130.75 but offers are protecting yesterday’s high of 131.04
