HomeContributorsTechnical AnalysisEURO Still Intraday Bearish Below 1.1774 Level

EURO Still Intraday Bearish Below 1.1774 Level

The euro currency earlier failed to break below the key 1.1713 support level against the U.S dollar, as the pair quickly reversed direction during yesterday’s late U.S session. The EURUSD quickly slumped to 1.1717, but moved back above the 1.1750 level, after the greenback dipped following the U.S Democrat party winning the in the state of Alabama yesterday. The victory weakens the U.S Republican parties position in the U.S Senate and is weighing on the intraday sentiment around the U.S dollar. Traders now look to the U.S CPI reading for the month of November, ahead of the FED interest rate decision.

The EURUSD pair remains intraday bearish while price-action trades below the 1.1774 level, downside support is now found at the 1.1750 and 1.1717 technical levels.

If the EURUSD pair starts to move above the 1.1774 technical level, intraday buyers may start to target towards the 1.1790 and 1.1813 resistance levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading