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EURUSD Retraces After Breaking Resistance

Posted On 14 Apr 2020
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eurusd technical analysis

The euro continues to retrace the gains after breaking past the resistance level of 1.1000 level.

As long as this level holds, price action is likely to remain steady.

A reversal off 1.1000 level could, however, establish the upside bias.

The upper resistance level near 1.1055 – 1.1030 will likely be the next target of interest.

A breakout above this level could signal a move to the 1.1200 resistance 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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