EURUSD analysis – Euro trades towards 1.1290 mark

April 11, OctaFX – In this EURUSD analysis, the euro is trading towards the best levels of the week against the US dollar, despite more bearish commentary from ECB President Mario Draghi during yesterday’s policy meeting.

EURUSD technical analysis

The 1.1290 levels remain strong resistance, with bulls needing to break above this area for further gains toward the 1.1330 level. Sellers need to hold price below the 1.1250 support level to shift the bullish intraday sentiment surrounding the EURUSD pair.

  • The EURUSD pair is only bullish while trading above the 1.1250 level, key technical resistance is found at the 1.1290 and 1.1330 levels.

  • If the EURUSD pair trades below 1.1250 level, key intraday support is found at the 1.1216 and 1.1170 resistance levels.

EURUSD analysis


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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