February 13, OctaFX – The euro currency has recovered above the 1.1300 level against the US dollar, with the pair correcting from extremely oversold trading conditions.
EURUSD Technical Analysis
If the EURUSD moves above the 1.1360 level, strong technical buying may force the pair back towards the 1.1410 area. Technical indicators are turning bullish on the four-hour time frame with the RSI and MACD indicators both showing potential for further upside.
- The EURUSD pair is only bearish while trading below the 1.1360 level, key technical support is found at the 1.1300 and 1.1255 levels.
- If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1410 and 1.1470 resistance levels.
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