HomeContributorsTechnical AnalysisEURO Testing Demand Around The 1.2100 Level

EURO Testing Demand Around The 1.2100 Level

The euro has come under another round of selling pressure against the greenback during the European trading session, following softer than expected EU inflation data. The EURUSD pair is currently trading around the key 1.2100 level, after being strongly rejected from the 1.2138 level. A loss of the 1.2100 level may provoke further selling towards the 1.2000 level, while a breach of the 1.2138 level should encourage buyers to test the 1.2154 level.

The EURUSD pair remains bearish while trading below the 1.2138 level, key intraday support is now found at the 1.2054 and 1.2000 levels.

If the EURUSD pair starts to trade back above the 1.2138 level, buyers may test towards the 1.2154 and 1.2200 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