Technical Analysis

EURUSD Remains Bullish Above 1.1800 Handle


The euro continues to trade at elevated levels against the U.S dollar, as financial markets turn their focus to U.S dollar index weakness and German politics. The EURUSD pair is currently holding around the key 1.1800 handle, as the German CDU Party remains in tense coalition negotiations with the Free-Democrat Party and the Green Party. German Chancellor Angela Merkel increasingly needs to strike a deal, to stabilize German politics and secure her own political future.

The EURUSD pair remains intraday bullish while trading above the 1.1800 technical level. Further upside towards the 1.1822 and 1.1860 resistance points. Extended euro resistance is found at the 1.1910 and 1.1940 levels.

Should price-action decline below the 1.1800 level, further losses towards the 1.1783 and 1.1767 levels are likely. Extended intraday EURUSD support is also found at the key 1.1710 technical level.

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