Europe’s common currency traded higher on Tuesday, as the dollar continued to backtrack against a basket of its rivals. What is next? Gain insight into this 28 August EURUSD Technical Outlook.
28 August, OctaFX – The euro currency continues to advance against the greenback, due to improving market sentiment and broad-based weakness in the US dollar. The EURUSD pair is only intraday bullish while trading above the key 1.1681 level, it also worth noting that the pair may be creating a bullish inverted head and shoulders pattern across various time frames.
28 August EURUSD Technical Outlook
- The EURUSD pair is strongly bullish while trading above the 1.1681 level, key resistance is found at the 1.1700 and 1.1740 levels.
- If the EURUSD pair trades below the 1.1650 level, sellers will likely target the 1.1630 and 1.1600 support levels.
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