EURUSD Struggles To Break Out Above 1.1000

eurusd

The euro currency’s rally finally saw prices rising to the 1.1000 level.

However, there are early indications suggesting a pullback. This will keep EURUSD range bound within 1.1000 and 1.0736 for the time to come.

However, the pullback, if confirmed, will see the euro falling back to the lower price level at 1.0885 – 1.0879.

If support successfully forms here and prevents the euro from further declines, then that opens the upside for the currency pair.

A potential breakout above 1.1000 level could happen which could see further gains coming through.

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“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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