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Euro Continues To Extend Declines
Posted On 11 Aug 2020
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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.
