Europe’s common currency is bracing for a potentially active Tuesday session headlined by economic data. How is the pair moving today? The latest 31 July EURUSD Technical Outlook will provide you with necessary guidance.
31 July, OctaFX – The euro continues to hold above the 1.1700 level against the US dollar, following a sharp decline in the value of the greenback on Monday.
The EURUSD pair currently retains a bullish intraday bias while price trades above the key 1.1681 technical level.
Traders now look to Jobs and Retail Sales data from the German economy and the release of US CORE PCE data later today, which is the Federal Reserve’s preferred measure of inflation.
31 July EURUSD Technical Outlook
- The EURUSD pair is bullish while trading above the 1.1680 level, key resistance is found at the 1.1730 and 1.1790 levels.
- If the EURUSD pair falls below the 1.1680 level, key technical support is found at the 1.1650 and 1.1630 levels.
This article about 31 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.