Will EURUSD Post A Lower High?
The euro currency is trading modestly following last Friday’s declines.
However, the currency pair remains strong with an upside bias.
At the moment, price action indicates a low forming around the 1.1287 level.
A rebound off this price level should see another attempt to rise higher.
However, if EURUSD fails to breakout above the previous higher close at 1.1350, then we expect a move lower.
A breakdown below 1.1287 will signal a move to the 1.1132 level where technical support will most likely form.