- EUR/USD is gaining strength as Trump secures concessions from Europeans to avoid trade war.
- EUR/USD has broken Tuesday’s high and has hit the 1.1740 resistance. EUR/USD bulls next objective is to challenge the weekly high near 1.1750.
- The USD weakness is broad-based. If EUR/USD bulls manage to breakout above 1.1730-1.1750 area, EUR/USD can accelrate towards 1.1760-1.1795 supply levels.
EUR/USD 15-minute chart
Spot rate: 1.1723
Relative change: 0.32%
Trend: Bearish / Risk of trend reversal above 1.1730-1.1750
Resistance 1: 1.1730-1.1740-1.1750 area, 23.6% Fibonacci retracement mid-April-May bear move, weekly high.
Resistance 2: 1.1760-1.1795 supply levels
Resistance 3: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1700 figure
Support 2: 1.1672 June 27 high
Support 3: 1.1654 current weekly low
Support 4: 1.1640-1.1649 area, key level and July 12 low
Support 5: 1.1600-1.1613 figure and July 13 low
Support 6: 1.1560 June 14 low
Support 7: 1.1508 current 2018 low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.