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EURUSD analysis: Euro under pressure below 1.1216

OctaFx | Apr. 8, 2019
EURUSD analysis: Euro under pressure below 1.1216

April 8, OctaFX – In today's EURUSD analysis, the euro has opened the new trading week under pressure against the US dollar following another bearish price close on Friday.

EURUSD technical analysis

The EURUSD pair is likely to come under further technical selling pressure while trading below the important 1.1216 support level. Only a move above the 1.1250 resistance level can negate the bearish weekly sentiment towards the EURUSD pair.

  • The EURUSD pair is heavily bearish while trading below the 1.1216 level, key technical support remains at the 1.1170 and 1.1130 levels.

  • If the EURUSD pair trades above the 1.1250 level, buyers may test back towards the 1.1290 and 1.1330 resistance levels.

EURUSD analysis

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.

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