EURUSD analysis: Euro falls to fresh weekly low

March 28, OctaFX – In this EURUSD analysis, the euro has fallen to a fresh weekly trading low against the US dollar after buyers failed to move price above the key 1.1290 resistance level.

EURUSD technical analysis

The 1.1200 support level is now coming into focus for the EURUSD pair, with the 1.1170 level critical weekly support below. The daily time frame is showing a bearish head and shoulders pattern with a downside projection of over three-hundred points.

  • The EURUSD pair bearish while trading below the 1.1290 level, key technical support is found at the 1.1216 and 1.1215 levels.

  • If the EURUSD pair trades above the 1.1290 level, buyers may test back towards the 1.1315 and 1.1330 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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