Europe’s common currency broke above 1.1600 US on Thursday for the first time in almost two weeks, as the dollar continued to backtrack against its peers. What is next? Gain insight into the following 23 August EURUSD Technical Analysis.
23 August, OctaFX – The euro currency remains well bid against the greenback, after six-day consecutive days of trading gains against the beleaguered US dollar.
The MACD indicator across the daily time frame and bullish daily price closes appear to signal that further upside seems increasingly likely in the EURUSD pair over the medium-term.
23 August EURUSD Technical Analysis
- The EURUSD pair remains strongly bullish while trading above the 1.1553 level, key resistance is now found at the 1.1680 and 1.1750 levels.
- If the EURUSD pair moves below the 1.1553 level, sellers are likely to test towards 1.1507 and 1.1480 support levels.
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