The EURUSD pair lost its upward momentum after the hawkish statement from the Fed. The pair dropped a few pips from yesterday’s top of 1.1720. What is next for the pair? Find in the following 6 July EURUSD Technical Outlook.
6 July, OctaFX – The euro currency has fallen back towards key breakout support against the greenback after buyers failed to keep the price above the 1.1700 level.
EURUSD bulls now need to move above the 1.1719 resistance level to keep the recent short-term bullish momentum alive the pair. The next strong directional move in the EURUSD will likely come after the release of today’s key US monthly jobs report.
6 July EURUSD Technical Outlook
- The EURUSD pair is only intraday bullish while trading above the 1.1719 level, key resistance is found at the 1.1750 and 1.1780 levels.
- If the EURUSD pair moves below the 1.1674 level, further declines towards the 1.1648 and 1.1600 support levels may follow.
This article about 6 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.