25 July EURUSD Technical Outlook: Sellers testing key support again


Europe’s common currency traded choppy on Tuesday, with prices fluctuating between 1.1660 and 1.1708. What is next? Find out in the following 25 July EURUSD Technical Outlook.

25 July, OctaFX – The euro has fallen back towards key weekly support against the US dollar as traders book profits ahead of a number of key risk-events for the single currency.

EURUSD traders await Thursday’s ECB policy decision and US President Donald Trump’s scheduled meeting with European trade officials. Buyers now need to keep the price above the 1.1724 resistance level, while sellers now need to hold price below the 1.1650 level.

25 July EURUSD Technical Outlook

  • The EURUSD pair is only intraday bullish while trading above the 1.1724 level, key resistance above the 1.1724 level is found at the 1.1750 and 1.1790 levels.
  • If the EURUSD pair falls below the 1.1650 level, key technical support is found at the 1.1630 and 1.1600 levels.

Disclaimer

This article about 25 July EURUSD Technical Outlook 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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