EURUSD analysis – Euro price moves up slightly to 1.1300

In this EURUSD analysis, euro price moved up slightly to a high of 1.1300 ahead of the ZEW economic sentiment. 

April 16, OctaFX – The euro price continues to trade around the 1.1300 resistance level against the US dollar in early Tuesday trade as buyers struggle to break through strong technical resistance.

EURUSD price technical analysis

The Ichimoku cloud on the daily time frame is currently offering strong resistance extending to the 1.1370 level. The Ichimoku indicator on the daily time is showing that the 1.1260 level is key support below the 1.1290 level.

  • The EURUSD pair is bullish while trading above the 1.1290 level, key technical resistance is found at the 1.1345 and 1.1370 levels.

  • If the EURUSD pair trades below 1.1290 level, key intraday support is found at the 1.1260 and 1.1230 support levels.

EURUSD analysis, Euro price


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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