December 11, OctaFX – The euro continues to drift lower against the greenback, as US dollar strength and ongoing Brexit concerns push the single currency lower.
EURUSD Technical Forecast
Yesterday’s strong technical rejection from the top-end of the triangle pattern is also weighing on the EURUSD pair. Further intraday losses towards the triangle bottom remain the most likely scenario while price continues to trade below the EURUSD weekly pivot point, at 1.1377.
- The EURUSD pair is intraday bearish while trading below the 1.1377 level, key technical support is found at the 1.1300 and 1.1216 levels.
- If the EURUSD pair moves above the 1.1377 level, buyers may test the 1.1400 and 1.1430 resistance levels.
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.