The euro retains its strong intraday bullish bias against the US dollar after buyers earlier defended the key 1.1507 support level. Dip-buying has been prevalent in the EURUSD pair since Friday, and we are now seeing price-action starting to support short-term euro buying. Traders will now look towards the 1.1553 resistance level, with daily time frame price closes above this key technical area critical for further bullish advancement.
The EURUSD pair is strongly bullish while trading above the 1.1507 level, key resistance remains at the 1.1553 and 1.1600 levels.
If we see the EURUSD pair fall below the 1.1507 support level, a strong corrective move towards the 1.1480 and 1.1445 support levels seems the most likely scenario.
– advertisement –
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More  Fears of a Fed mistake grow as this week’s anticipated interest rate hike loomsJerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic ... Read More |
