Euro Maintains Declines Amid A Strong USD

The euro is down another 0.8% on the day. The declines could likely see a move to the lower support level at 1.0787.

There is scope for a modest rebound ahead of the decline to the support level. However, the resistance level at 1.1030 will be coming under a second retest.

As long as this resistance holds, the downside is likely. In the event that the support fails at 1.0787, then we expect a move lower to 1.0663.

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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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