EURUSD Attempting to Break Key Resistance


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.

Disclaimer

This article about EURUSD Attempting to Break Key Resistance was provided by OctaFX. It should 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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