EURUSD Forex Analysis for Today – Monday (11-09-2023)
EURUSD in a Sideways Movement, Watch Support and Resistance
Analysis of EURUSD – The strengthening of the US dollar is affecting the movement of EURUSD. EURUSD is currently moving lower, testing the support area between 1.06985 – 1.06825.
Today’s Trading Strategy:
There is a potential opportunity to sell EURUSD today if it breaks below the range of 1.06985 – 1.06825, with the potential for a further decline towards the range of 1.06320 – 1.06026.
Alternative Scenario:
If the resistance area between 1.07433 – 1.07514 is breached, it may potentially push EURUSD higher towards the range of 1.08029 – 1.08106.
Resistance Levels:
- R1: 1.07514
- R2: 1.08106
- R3: 1.08851
Support Levels:
- S1: 1.06825
- S2: 1.06026
- S3: 1.07777
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