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EURUSD technical analysis - Euro bearish correction underway

OctaFx | Jun. 6, 2019
EURUSD technical analysis - Euro bearish correction underway

6 June 2019, OctaFX – The euro currency is undergoing a bearish correction against the US dollar after meeting strong selling interest from the 1.1300 resistance level.

EURUSD technical analysis

Additional weakness in the EURUSD is likely, with a technical test of the 1.1165 support possible if the price moves below the 1.1200 level. Overall, profit taking and a downward correction in some technical indicators are weighing on the EURUSD in the near-term.

  • The EURUSD pair is only bearish while trading below the 1.1200 level, key technical support is found at the 1.1180 and 1.1165 levels.

  • If the EURUSD pair trades above the 1.1265 level, buyers may test the 1.1300 and 1.1325 levels.

EURUSD technical analysis, Euro bearish correction, EURUSD price

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.