Europe’s common currency has recovered somewhat from its recent yearly low, though the general trend remains overwhelmingly bearish. What can traders expect next? Peer into the latest 17 August EURUSD Technical Forecast.
17 August, OctaFX – The EURUSD pair continues to press against the 1.1400 resistance level on Friday, as the US dollar index fades away from a thirteen-month trading high.
Further upside is still expected in the EURUSD will price continues to trade above the 1.1345 support level. Traders will now take their direction from the eurozone consumer price index, with market expectations tilted to the downside.
17 August EURUSD Technical Forecast
- The EURUSD pair is only intraday bullish while trading above the 1.1345 level, key resistance is found at the 1.1430 and 1.1480 levels.
- If the EURUSD pair moves below the 1.1345 level key support is found at the 1.1300 and 1.1230 levels.
This article about 17 August 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.