The common currency erased the intraday gains on Friday after prices rise to a new high, briefly testing the 1.1900 level.

Price action on Friday closed on a bearish note. But on a weekly basis, EURUSD gained for six consecutive weeks, rising over 5.3% in total.

Friday’s close put EURUSD just below the rising trend line but only a few pips above the 1.1750 handle.

- advertisement -

A rebound off this level might keep the euro supported to the upside. Alternately, a close below 1.1750 could see prices falling to the test the next main trend line and closer to the 1.1600 handle.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.