EURUSD analysis – Euro moves higher against US dollar

April 22, OctaFX –The euro currency is attempting to correct higher against the US dollar in early-week trading, amidst quiet market conditions.

EURUSD technical analysis

Technical indicators on the lower time frames have now corrected from oversold conditions, with EURUSD the pair still struggling to break past the 1.1250 resistance level. Sellers need to breach the 1.1216 support level to further encourage selling towards critical weekly support, at 1.1175.

  • The EURUSD pair is intraday bearish while trading below the 1.1250 level, key technical support is found at the 1.1216 and 1.1175 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 - Euro US dollar


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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