EURUSD Starting to Lose Bullish Momentum

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.


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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