Euro Continues to Rise Against US Dollar

January 29, OctaFX – The euro has continued to rise against the US dollar during the European session, with the pair hitting a fresh weekly trading high as the greenback comes under renewed selling pressure.

Buyers need to quickly break above the 1.1460 level to build on the recent bullish momentum. If bulls fail to surpass the 1.1460 level, an eventual decline back towards the 1.1360 level may occur.

EURUSD Technical Forecast

  • The EURUSD pair is bullish while trading above the 1.1410 level, key technical resistance remains at the 1.1460 and 1.1500 levels.
  • If the EURUSD pair fails to break the 1.1460 level, sellers may test towards the 1.1410 and 1.1360 support 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.

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