17 July EURUSD Technical Analysis: Pair is only intraday bullish


Europe’s common currency gained momentum on Tuesday, with EURUSD crossing the 1.1700 threshold for the first time since 11 July. What is next for the pair? Gain insight into today’s 17 July EURUSD Technical Analysis.

17 July, OctaFX – The euro currency continues to trade above the 1.1700 level against the US dollar, with bulls pressing against the key 1.1724 resistance level.

Euro traders remain cautious ahead of Federal Reserve Chair Jerome Powell’s semi-annual testimony before US Congress later today.

Buyers will look to advance well-beyond the 1.1724 level to keep the recent bullish momentum in the EURUSD, while sellers will target losses below the 1.1674 support area.

17 July EURUSD Technical Analysis

  • The EURUSD pair is only intraday bullish while trading above the 1.1724 level, key resistance is now found at the 1.1757 and 1.1820 levels.
  • If the EURUSD pair falls below the 1.1700 level, key technical support is found at the 1.1674 and 1.1650 levels.

Disclaimer

This article about 17 July EURUSD Technical Analysis 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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