Europe’s common currency rallied on Monday to a fresh 10-day high, as a weaker dollar magnified the performance of competitor currencies. What is next? Gain insight into the following 21 August EURUSD Technical Analysis.
21 August, OctaFX – The euro currency has moved sharply higher against the greenback after US President Donald Trump reiterated his concern about the Federal Reserve raising interest rates.
The EURUSD pair has so far advanced towards the 1.1540 region, falling just short of the key 1.1553 resistance level. The intraday bias for the EURUSD is bullish while trading above the 1.1507 level, the MACD indicator across the four-hour time frame has also turned bullish.
21 August EURUSD Technical Analysis
- The EURUSD pair is bullish while trading above the 1.1507 level, key resistance is now found at the 1.1553 and 1.1600 levels.
- If the EURUSD pair moves below the 1.1507 level, sellers may push the price back towards the 1.1445 support level.
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