Euro is under pressure as it fell in the Asian session to a low of 1.1650, which was the lowest level since Monday. Should traders expect the EURUSD pair to head lower?
19 September, OctaFX – The euro currency has fallen from a three-week trading high against the US dollar after short-term buyers once again failed to break the 1.1730 resistance level.
Euro Under Pressure After Technical Failure
Rising US treasury-yields helped pushed the EURUSD pair lower, with the US ten-year bond yield rising to its highest trading level since May. Sellers will attempt to break the 1.1650 level while buyers need to push price above the 1.1700 resistance level.
- The EURUSD pair only bullish while trading above the 1.1650 level, key resistance remains at the 1.1730 and 1.1750 levels.
- If the EURUSD pair moves below the 1.1650 level, key support is found at 1.1628 and 1.1600 levels.
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