19 June 2019, OctaFX – The euro has struggled to move above the 1.1200 resistance level against the US dollar as ECB President Mario Draghi’s bearish comments continue to weigh on the single currency.
EURUSD technical analysis
The 1.1150 support level is the next support level to watch while EURUSD price continues to trade below the 1.1200 level. EURUSD traders now await the FOMC rate decision later today, which could spark huge volatility and move the pair into a new trading range.
EURUSD price is heavily bearish while trading below the 1.1200 level, key technical support is found at the 1.1170 and 1.1150 levels.
If EURUSD price trades above the 1.1200 level, buyers may test the 1.1245 and 1.1260 levels.
This article was provided by OctaFX. It should NOT 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.