27 August EURUSD Technical Analysis: Pair is intraday bullish


The EURUSD pair is only intraday bullish while trading above the 1.1600 level. How is the pair further supported? Find the answer in this 27 August EURUSD Technical Analysis.

27 August, OctaFX – The euro currency continues to rise against the US dollar after Federal Reserve Chair Jerome Powell struck a dovish tone towards US inflation expectations at Jackson Hole.

The EURUSD pair is only intraday bullish while trading above the 1.1600 level and is further supported by a bullish technical breakout above a well-defined triangle pattern.

27 August EURUSD Technical Analysis

  • The EURUSD pair is intraday bullish while trading above the 1.1600 level, key resistance is found at the 1.1650 and 1.1681 levels.
  • If the EURUSD pair trades below the 1.1600 level, sellers will likely target the 1.1575 and 1.1554 support levels.

Disclaimer

This article about 27 August EURUSD 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.

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