Europe’s common currency underwent a series of volatile moves on Tuesday, with prices bottoming in the low 1.1660 region. At the moment, what level is the EUR/USD is currently testing? Gain insight with OctaFX 6 June EURUSD Technical Analysis.
6 June, OctaFX – The euro currency has moved back above the 1.1700 level against the US dollar, after unconfirmed sources stated that the ECB will be discussing an exit to its QE programme at its next Policy Meeting.
The EURUSD pair currently trades around the 1.1715 level, after finding strong weekly support from the 1.1652 level on Tuesday. EURUSD buyers will look for further gains above the key 1.1750 level, while sellers will look for further losses below the 1.1680 level.
6 June EURUSD Technical Analysis
- The EURUSD pair is intraday bullish while trading above the 1.1680 level. Key resistance is located at the 1.1750 and 1.1800 levels.
- If the EURUSD pair moves below the 1.1680 level, sellers may push price towards the 1.1652 and 1.1600 support levels.
This article about 6 June EURUSD Technical Analysis 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.