EURUSD Resumes Gains, But Can It Break Past 1.1000?

eurusd

The single currency caught a bid as the dollar was soft. As a result, the EURUSD is rising over 0.65% intraday.

Prices remain well below the resistance area of 1.1000 level for now. Given the positioning in the Stochastics oscillator, the momentum could give out.

In this scenario, we expect the EURUSD to pullback lower once again.

But, with support firm at the 1.0885 region, the bias is slightly shifting to the upside for now.

Any gains will come only upon a successful breakout above the 1.1000 level.

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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