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EURUSD analysis: Euro weakens against US dollar

OctaFx | Apr. 19, 2019
EURUSD analysis: Euro weakens against US dollar

April 19, OctaFX –The euro currency continues to weaken against the US dollar on Friday following yesterday’s much weaker than expected eurozone manufacturing data.

EURUSD technical outlook

The EURUSD pair is intraday bearish while trading below the 1.1250 level, with critical support located at the 1.1175 level. Technical indicators on the daily time frame are also showing that selling pressures are increasing.

  • 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 1.1270 and 1.1290 levels.

EURUSD analysis, Euro  US dollar

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.