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EURUSD Trades Flat As It Fails To Clear 1.1261

Posted On 02 Jul 2020
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eurusd

The euro currency is holding on to a sideways pattern. Price action once again attempted to breakout above 1.1261 level of resistance.

But failing to breakout higher is keeping the currency pair subdued. A smaller range is forming with the lower end at 1.1205.

Following this consolidation, we expect the euro currency to potentially breakout. The bias is mixed for the moment, given the consistent lower highs that are forming.

As a result, this opens the downside in EURUSD towards the 1.1132 level of support.

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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