Tue, Jan 19, 2021 @ 00:05 GMT
Home Contributors Technical Analysis EUR/USD Analysis: Touched Monthly R2

EUR/USD Analysis: Touched Monthly R2

On Wednesday, the EUR/USD currency pair raised to the 1.1340 level. During today’s morning, the pair tested the resistance level—the weekly R1 at 1.1364.

It is likely that some downside potential could prevail, and the exchange rate could re-test the lower line of the short-term ascending channel circa 1.1290.

Meanwhile, note that the rate could gain support from the weekly R1 and the 55-hour SMA at 1.1308. If the given level holds, a reversal north could occur, and the pair could re-test the predetermined resistance.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading