EURUSD Consolidation, Bearish Outlook Persists
EURUSD Analysis – The strengthening of the US dollar is affecting the movement of EURUSD. EURUSD has the potential to decline towards the support area of 1.05422 – 1.05177.
Today’s Trading Strategy:
There is a selling opportunity for EURUSD today as long as it doesn’t break above the 1.05929 – 1.06100 area, with the potential to drop to the 1.05422 – 1.05177 area.
Alternative:
If there is a breakthrough above the resistance area of 1.05929 – 1.06100, it has the potential to push EURUSD up to the 1.06860 – 1.06953 area.
Resistance Levels:
- R1: 1.06100
- R2: 1.06953
- R3: 1.07394
Support Levels:
- S1: 1.05422
- S2: 1.04999
- S3: 1.04576
