Over the past few days, the pair has formed a symmetrical triangular pattern, and now, EURUSD is attempting to break key resistance. What is next? Let’s find out from the following analysis.
7 September, OctaFX – The euro currency continues to press higher against the greenback after the U.S. Dollar Index failed to hold above the key 95.50 support level for the second consecutive day.
EURUSD Attempting to Break Key Resistance
The short-term trend on the EURUSD pair will turn bullish if buyers can hold price above the 1.1650 resistance level. The MACD indicator across the one-hour time frame continues to trend higher.
- The EURUSD pair is only bullish while trading above the 1.1650 level, key technical resistance is now found at the 1.1681 and 1.1730 levels.
- If the EURUSD sellers move price below the 1.1600 level once again, sellers will likely test the 1.1580 and 1.1553 levels.
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