A lower level where price action has been able to establish.
For example, if previously the lower boundary of EURUSD has been 1.2500, and now the pair trades down to 1.2400, then a new low has been established.
The term is used to describe developments in price action. For example if the new level was breached by a breakout of resistance below, traders and analysts may watch for moves to continue down. On the other hand should price action have reached the new low and stall, range traders may seek entry opportunities to long the pair.
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