December 20, OctaFX – The euro currency is starting to lose bullish momentum against the US dollar after another strong technical failure above the 1.1400 level.
Technical Analysis: EURUSD under pressure
The EURUSD pair is coming under pressure after the Federal Reserve increased interest rates and committed to further gradual rate hikes next year. A strong move below the 1.1360 support level is now needed to accelerate technical selling in the EURUSD.
- The EURUSD pair is only bullish while trading above the 1.1400 level, key technical resistance is found at 1.1430 and 1.1470 levels.
- If the EURUSD pair trades below the 1.1360 level, key technical support is found at the 1.1330 and 1.1268 support levels.
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