28 August EURUSD Technical Outlook: EURUSD tests key resistance


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.

Disclaimer

This article about 28 August 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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