December 17, OctaFX – The euro currency has recovered above the 1.1300 level against the US dollar after finding buying interest from the 1.1269 support level.
Technical Analysis: EURUSD Watching Resistance Level
Price is now moving towards key trendline resistance from the well-defined triangle pattern, found at the 1.1328 level. If sellers fail to defend this key technical area, buyers can easily force the EURUSD pair much higher towards the 1.1360 level.
- The EURUSD pair is only bullish while trading above the 1.1328 level, key technical resistance is found at the 1.1360 and 1.1400 levels.
- If the EURUSD pair trades below the 1.1300 level, sellers may test towards the 1.1269 and 1.1216 support levels.
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