The shared currency remains on the defensive on Tuesday and is now dragging EURUSD to the 1.1724/10 band or fresh session lows. What should traders expect next? The following 10 July EURUSD Technical Outlook will show you.
10 July, OctaFX – The euro has started to erase recent gains against the US dollar, with price now testing back towards last weeks key breakout spot.
The EURUSD pair has slipped lower due to a strong bid coming back into the US dollar index, as buyers recover the key 94.00 level.
Buyers will look to move price back above the 1.1760 level, while sellers will look to hold price below the 1.1724 level.
10 July EURUSD Technical Outlook
- The EURUSD pair is only intraday bullish while trading above the 1.1724 level, key resistance is now found at the 1.1760 and 1.1790 levels.
- If the EURUSD pair continues to trade below the 1.1724 level, key technical support is found at the 1.1713 and 1.1685 levels.
This article about 10 July EURUSD Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.