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EURUSD Pulls Back After Briefly Rising Above 1.2000

Posted On 02 Sep 2020
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The euro currency posted a fresh high as prices briefly rose above 1.2000 handle. However, just as quickly, the euro pulled back off this level.

Price action is supported to the upside as it tests the 1.1950 level. This marks the previous highs from 18, 19 August.

As long as this level holds, a reversal could see the euro firming up above 1.2000.

Alternately, if the euro loses the 1.1950 handle, then we could expect to see a move lower.

Still, price action will be supported near the lower support area around 1.1800.

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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