Euro Remains Under Downside Pressure

February 11, OctaFX – The euro remains under downside pressure against the US dollar in early Monday trading, after a bearish weekly price close near the 1.1300 support level.

EURUSD Technical Analysis

Technical indicators on the four-hour time frame are rising, although caution is advised given the current weakness in the EURUSD pair. Any technical corrections higher are likely to target the rising trendline, which is located around the 1.1360 level.

  • The EURUSD pair is bearish while trading below the 1.1360 level, key technical support is found at the 1.1300 and 1.1268 levels.
  • If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1390 and 1.1428 resistance 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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