EURUSD analysis – Euro continues edging higher

April 23, OctaFX – The euro currency continues to edge higher against the US dollar in early Tuesday trade, following a breakout above the 1.1250 level.

EURUSD technical analysis

If buyers hold price above the 1.1250 level the EURUSD pair faces strong weekly technical resistance from the 1.1280 level. Both the Momentum and the MACD indicators on the four-hour time frame are correcting from oversold conditions.

  • The EURUSD pair is only intraday bearish while trading below the 1.1250 level, key technical support remains at the 1.1230 and 1.1216 levels.

  • If the EURUSD pair trades above 1.1250 level, key intraday resistance is found at the 1.1280 and 1.1300 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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