Euro Struggles to Break Higher Against US Dollar

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.


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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