Europe’s common currency is coming off a turbulent week that saw prices swing from multi-week highs to more than one-week lows. What level should sellers target? Gain insight into the following 30 July EURUSD Technical Outlook.
30 July, OctaFX – The euro has opened the new trading-week around the key 1.1650 level against the US dollar, as traders await a breakout move in the greenback.
Central bank action this week should provide the much needed directional catalyst for the EURUSD pair. Sellers will continue to target a strong break below the 1.1600 level, while buyers will try to move price above the 1.1724 resistance level.
30 July EURUSD Technical Outlook
- The EURUSD pair remains bearish while trading below the 1.1650 level, key support is found at the 1.1600 and 1.1554 levels.
- If the EURUSD pair trades above the 1.1650 level, buyers will likely target the 1.1680 and 1.1724 resistance levels.