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EURUSD analysis - Euro creeps higher against USD

OctaFx | Jul. 30, 2019
EURUSD analysis - Euro creeps higher against USD

The EURUSD pair is seen attempting another run higher in the European session, as the bulls look to meet resistance from the 1.1160 level.

30 July 2019, OctaFX – The euro currency is creeping higher against the US dollar, although the pace of the pairs recent recovery is starting to slow down.

EURUSD technical analysis

EURUSD bulls face tough resistance from the 1.1160 level, while the 1.1187 level is the major technical area buyers need to breach. Overall, buyers may start to switch to EURUSD buy positions if we continue to see failure before the 1.1160 level.

  • The EURUSD pair is only bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. 

  • If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1187 and 1.1215 levels.

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Disclaimer

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.