EURUSD Further Weakness Expected

AdminFeb 15, 2019

The euro continues to edge lower against the US dollar on Friday, with the single currency coming under selling pressure over fears about possible US trade tariff on German imports. The key technical support region to watch is 1.1260 level, sustained weakness below this area is likely to provoke selling towards the 1.1215 level. The 1.1310 level is currently proving strong resistance on any short-term technical corrections higher.

The EURUSD pair is heavily bearish while trading below the 1.1260 level, key technical support is found at the 1.1248 and 1.1215 levels.

If the EURUSD pair moves above the 1.1290 level, buyers may test towards the 1.1310 and 1.1330 resistance levels.

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