EURUSD Forex Analysis for Today, Tuesday (25-06-2024)
EURUSD Rise Held at Resistance, Check SELL Opportunities
EURUSD Analysis
German Business Climate Declines
The German business climate index, based on a survey conducted by the Ifo Institute, declined, with the index recorded at 88.6, down from 89.3. According to Ifo president Clemens Fuest, the German economy is struggling with the risk of stagflation. This survey limits the euro’s strength, especially as the market awaits a series of US economic data expected to strengthen this week.
Held at Resistance Area
The EURUSD rise is held at the resistance area. SELL opportunities can be sought as long as there is no breakout above the resistance area.
Prediction: WEAK EURUSD
Resistance
- R1 1.07644
- R2 1.07600
- R3 1.07477
- R4 1.07400
Support
- S1 1.07644
- S2 1.07305
- S3 1.07160
- S4 1.06986
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