The upbeat tone around the single currency remains well and sound today, lifting EUR/USD to fresh daily highs in the 1.1830 region. Read on as a detailed technical picture of the pair is painted in this 22 May EURUSD Intraday Technical Analysis.
22 May, OctaFX – The euro has moved sharply higher against the greenback during the European trading session, hitting 1.1829, as the US dollar index comes under early week selling pressure.
The EURUSD pair currently trades around the 1.1810 level, with bullish momentum growing while price trades above the key 1.1800 level. Traders continue to look to the US dollar index for guidance, with 1.1900 the next key upside level to watch above the 1.1800 handle.
22 May EURUSD Intraday Technical Analysis
- The EURUSD pair is intraday bullish while trading above the 1.1800 level, buyers may now test towards the 1.1838 and 1.1900 resistance level.
- If the EURUSD pair moves back below the 1.1800 level, sellers will be encouraged to test back towards the 1.1750 level once again.
This article about 22 May EURUSD Intraday 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.