March 12, OctaFX – The euro currency is still attempting to correct higher against the US dollar, following weaker than expected US Retail Sales numbers.
EURUSD price analysis
EURUSD price could correct towards the 1.1290 resistance level if buyers can sustain it above the pivotal 1.1230 level. The MACD indicator on the four-hour time frame continues to signal that the EURUSD pair could still correct much higher.
The EURUSD pair is intraday bullish while trading above the 1.1230 level, key technical resistance is found at the 1.1260 and 1.1290 levels.
If the EURUSD pair moves below the 1.1230 level, sellers may test towards the 1.1200 and 1.1175 levels.
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