EURUSD traders cautious ahead geopolitical Super Thursday, according to the ADS Securities' analysts forecast. What is your projection?
7 June, ADS Securities – Yesterday, the Euro recorded modest gains against the US Dollar, amid a surge in the Eurozone’s investor optimism to its highest level in nearly a decade in June and a more-than-expected rise in retail sales data for April.
EURUSD traders cautious ahead geopolitical Super Thursday
Currently, the pair is trading with a downside bias on the 1H chart, reflecting at a bearish technical scenario. Besides, a possible negative centreline crossover by the MACD, further confirms the above view. Important support is located at the 1.1245 level, followed by the 1.1225 where EMA 200 is located and 1.1200 levels.
A breach below the latter might lead to bearish momentum in the pair. On the bright side, key near-term resistance is placed at the 1.1280 level, followed by the psychological 1.1300 and 1.1330 levels. A break above the latter might trigger further upside momentum in the pair.
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