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13 June 2018

Forex

13 June EURUSD Technical Forecast: Pair is intraday bearish

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Europe’s common currency backtracked against the dollar on Tuesday, as regional tensions continued to dampen the outlook for the single currency. What can traders expect today? Analysts at OctaFX offer their projection in the following 13 June EURUSD Technical Forecast.

13 June, OctaFX – The euro has turned sharply lower against the US dollar in early Wednesday trading, as traders start to square positioning and book profits ahead of today’s key rate decision from the US Federal Reserve.

The EURUSD pair currently trades below the key 1.1750 level, after being strongly rejected from the 1.1800 level once again. Traders now look towards the release of key Employment and Industrial Production data from the eurozone economy.

13 June EURUSD Technical Forecast

  • The EURUSD pair is intraday bearish while trading below the 1.1750 level. Key support is located at the 1.1726 and 1.1700 levels.
  • If the EURUSD pair moves above the 1.1750 level, buyers may try to push price towards the 1.1800 and 1.1839 resistance levels.

Disclaimer

This article about 13 June EURUSD Technical Forecast 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.


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