The EURUSD has broken higher through the Very Big Round Number (VBRN) of 1.300. The VBRN’s act as major psychological levels that price will often respect.
In this pair price has been moving higher of late before stalling just under the 1.300 level. Now price has broken higher through this level we could see a new move higher into the recent highs which is the next resistance level.
Bulls can look to take longs in this market from the value area which is around the 1.300 level should we get a rotation lower.
EURUSD DAILY CHART – 4 DECEMBER 2012
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