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EURUSD Attempts To Pare Losses

Posted On 29 Sep 2020
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The euro is attempting to erase gains from last Friday in what could be a near term correction.

After losing the 1.1900 handle, the EURUSD has been steadily posting a decline.

Price action is somewhat stable, close to the 1.1600 level of support.

The current rebound could see the EURUSD attempting to test the 1.1715 handle. If resistance forms here, we expect to see price eventually breaking down past the 1.1600 level.

Alternatively, a close above the 1.17150 level could potentially see the bullish momentum resuming, putting the EURUSD on track to test the 1.1900 level next.

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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