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EURUSD price analysis - Euro slumps to 1.1280

EURUSD price analysis - Euro slumps to 1.1280

14 June 2019, OctaFX – The euro currency has slumped to a fresh weekly trading low against the US dollar after the pair broke through the 1.1280 support barrier.

EURUSD technical analysis

Sustained losses below the 1.1260 level may trigger the next heavy EURUSD sell-off towards at least the 1.1235 support zone. Worse than expected US retail sales data later today may help to send the US dollar index lower and give the EURUSD a boost back towards the 1.1300 level.

  • EURUSD price is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1235 levels.

  • If EURUSD price trades above the 1.1300 level, buyers may test the 1.1321 and 1.1347 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.

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