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Euro Breaks Down Below Support

Posted On 19 Mar 2020
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he euro turned weaker amid a stronger dollar.

Price action broke past the initial support level of 1.0855.

Further downside will see a test of the 1.0784 handle. This marks the lows from late February this year.

The Stochastics oscillator remains well in the oversold level suggesting further downside.

To the upside, the resistance level at 1.0855 will be the target which will cap the gains.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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