Europe’s common currency extended its rally against a slumping dollar on Monday, with prices climbing 0.2% to 1.1743. What is next? The following 23 July EURUSD Technical Forecast will tell.
23 July, OctaFX – The euro continues to trade to the upside against the US dollar after Friday’s sharp reversal, following US President Donald Trump’s bearish comments about the US currency.
The EURUSD pair retains a strong intraday bullish bias while trading above the 1.1724 technical level. EURUSD buyers will look for further gains above the 1.1755 level, while sellers will look to move the price back towards the 1.1650 support level.
23 July EURUSD Technical Forecast
- The EURUSD pair is intraday bullish while trading above the 1.1724 level, key resistance is found at the 1.1755 and 1.1800 levels.
- If the EURUSD pair moves below the 1.1724 level, sellers will likely test towards the 1.1681 and 1.1650 support levels.
This article about 23 July 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.