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EURUSD price analysis - Euro recovers higher from 1.1300

OctaFx | Jun. 11, 2019
EURUSD price analysis - Euro recovers higher from 1.1300

10 June 2019, OctaFX – The euro has made a quick recovery higher after briefly dipping below the 1.1300 level against the US dollar and finding strong buying demand just below the 1.1290 level.

EURUSD technical analysis

Buyers now need to break the former weekly higher and aim to close the daily candle above the EURUSD pairs 200-day moving average. Overall, the upside target for short-term bulls is likely to be the 1.1390 to 1.1410 area if weakness in the greenback persists.

  • The EURUSD pair is only bearish while trading below the 1.1280 level, key technical support is found at the 1.1260 and 1.1230 levels

  • If the EURUSD pair trades above the 1.1280 level, buyers may test the 1.1360 and 1.1390 levels.

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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.