January 9, OctaFX – The euro is struggling to break higher against the US dollar currency, as buyers fail to close the daily candle above the pairs key 100-day moving average.
EURUSD Technical Forecast
Despite the failure to break the 1.1500 barrier, the EURUSD pair remains well-bid on pullbacks towards the 1.1400 support level. Traders now await the release of German export data and the official eurozone unemployment this morning.
- The EURUSD pair is intraday bullish while trading above the 1.1480 level, key technical resistance is found at 1.1500 and 1.1550 levels.
- If the EURUSD pair trades below the 1.1430 level, sellers are increasingly likely to test the 1.1410 and 1.1360 support levels.
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