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Euro Rebounds Off Support, As Expected

Posted On 06 Apr 2020
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eurusd

The euro currency’s gradual declines pushed the currency down to the support area of 1.0787 into Friday’s close.

As widely expected, price quickly bounced off this support level to close on a bullish session in the final hours on Friday last week.

The Stochastics oscillator remains well in the oversold level. This could signal a turnaround in the near term.

EURUSD will likely remain caught within the range of 1.1030 and the current support of 1.0787 for the near term.

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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