EURUSD Attempts to Break Through Support Area
Analysis of EURUSD – The strengthening of the US dollar is influencing the movement of EURUSD. EURUSD has declined, testing the support area of 1.05769 – 1.05572.
Today’s Trading Strategy:
There is a potential opportunity to SELL EURUSD today if it breaks below the range of 1.05769 – 1.05572, with the potential to decline towards the range of 1.05169 – 1.04905.
Alternatively, if the support range of 1.05769 – 1.05572 fails to be breached, it has the potential to push EURUSD up towards the range of 1.06626 – 1.07389.
Resistance Levels:
- R1: 1.06769
- R2: 1.07389
- R3: 1.08101
Support Levels:
- S1: 1.05572
- S2: 1.04905
- S3: 1.04445
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