Euro Pulls Back From 1.1900 Once Again

eurusd

The euro currency is on track to post the first daily decline in five days. The declines come after a steady bout of daily gains.

Prices briefly rose to the 1.1900 handle, but the common currency quickly reversed gains.

With the Fed meeting due later today, we expect the 1.1900 and 1.1800 range to hold.

A breakout from either of these two levels will potentially see further gains or declines.

To the upside, the EURUSD will need to challenge the key 1.2000 level.

While to the downside, the main support area near 1.1715 will be critical.

A break down below this level could lead to further declines with the next support area at 1.1600.

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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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