December 31, OctaFX – The euro is starting to lose upside momentum against the US dollar after the recent rally found strong selling interest from the 1.1472 resistance level.
EURUSD Technical Analysis
Price is now moving closer to the pivotal 1.1430 level, a clear break below this key level will likely prompt selling towards the 1.1400 level. The MACD indicator on the four-hour time frame is also showing that bullish momentum is fading.
- The EURUSD pair is only bearish while trading below the 1.1430 level, key technical support is found at 1.1400 and 1.1360 levels.
- If the EURUSD pair holds above the 1.1430 level, buyers may test towards the 1.1472 and 1.1500 levels.
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