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EURUSD technical analysis: Euro remains under bearish pressure

OctaFx | Mar. 5, 2019
EURUSD technical analysis: Euro remains under bearish pressure

March 5, OctaFX – The euro remains under bearish pressure against the US dollar on Tuesday, with the pair briefly dropping towards the key 1.1300 support level.

EURUSD technical analysis

Further intraday losses are expected while the EURUSD pair trades below the 1.1337 level, which is former support now turned key resistance. Technical indicators on the four-hour time frame continue to suggest that more weakness is likely for the EURUSD pair.

  • The EURUSD pair is bearish while trading below the 1.1337 level, key support remains at the 1.1300 and 1.1275 levels.

  • If the EURUSD pair trades above the 1.1337 level, key technical resistance is found at the 1.1370 and 1.1390 levels.

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.