EURUSD outlook ahead EU Confidence data

Trading EURUSD? This EURUSD outlook ahead EU Confidence data from ADS Securities will certainly help you in your trading today. Dig in!

22 June, ADS Securities – The Euro traded higher against the US Dollar in the prior session and finished at 1.1168, following a high at 1.1169.

EURUSD outlook ahead EU Confidence data

As of now, the pair is trading with an upside tone on the 1H chart, ahead of the consumer confidence data in the Eurozone to be released later today. Besides, the MACD indicator is trading at a higher level above the midline, further validating the above stance.

Key resistance to be watched is situated at the 1.1190 level, followed by the 1.1220 and 1.1245 levels. A clear break and stability above the latter might lead to further bullish momentum in the pair. On the downside, key support is located at the 1.1150 where EMA 55 is trading, followed by the 1.1130 and 1.1100 levels. A move back below the latter might trigger weakness in the pair.

EURUSD outlook ahead EU Confidence data

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