An upper level where price action has been able to establish.
For example, if previously the upper boundary of EURUSD has been 1.3600, and now the pair trades up to 1.3700, then a new high has been established.
The term is used to describe developments in price action. For example if the new level was breached by a breakout above, traders and analysts may watch for moves to continue up. On the other hand should price action have reached the new high and stall, range traders may seek entry opportunities to short the pair.
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