EURUSD Forex Analysis for Today – Wednesday (20-09-2023)
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EURUSD Correction Stalled at Resistance Area
Analysis of EURUSD – The strengthening of the US dollar is affecting the movement of EURUSD. There is potential for EURUSD to decline towards the support area of 1.06387 – 1.06237.
Today’s Trading Strategy:
There is an opportunity to Sell EURUSD today as long as it doesn’t break above the range of 1.06943 – 1.07097, with the potential for a decline to the range of 1.06387 – 1.06237.
Alternative:
If there is a breakthrough above the resistance area of 1.06943 – 1.07097, it may push EURUSD up to the range of 1.07513 – 1.07740.
Resistance Levels:
- R1: 1.07097
- R2: 1.07740
- R3: 1.08106
Support Levels:
- S1: 1.06237
- S2: 1.05500
- S3: 1.05187
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