Euro Continues To Extend Declines

eurusd

The common currency is trading weaker on Monday’s open, extending on the declines from last Friday. This comes as price failed to breach the previous two-year highs.

The dollar strength is also adding to the current weakness in EURUSD. Price action is trading near the 1.1750 level of support.

From the Stochastics oscillator, there is a possibility that EURUSD might hold on to this support.

A rebound off this level could see another attempt to the upside.

But in case the euro slips below the 1.1750 handle, then we could expect a move toward the 1.1600 level of support next.

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“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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