EUR/USD is expected to move towards the 1.06 range

AAATrade Team AAATrade

EUR/USD

Looking at EURUSD’s Chart, we can see a rise from the 1.047 level on the 20th of May to the 1.0575 range on the 21st of May, holding on to its territory and forming another leg up into the 1.065 range on the 24th of May. It managed to reach as high as 1.075 level on the 25th of May but soon after it experienced a retraction back towards the 1.065, as it didn’t manage to consolidate at that level. Early on today’s session there was a climb from the 1.065 to the 1.07and was last found trading in the 1.066 range.

Today we could expect a move towards the 1.06 range which acts as the closest temporary support level.

If, however, it manages to hold on to the current range then a move towards the 1.075 overhead resistance level can be expected.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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