The euro rose against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1514, adding 0.52%. I believe that support is now at around 1.1433, Friday's trading low, and resistance is likely at the level of 1.1623, Tuesday's maximum.
Justice1024 posted: The euro rose against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1514, adding 0.52%. I believe that support is now at around 1.1433, Friday's trading low, and resistance is likely at the level of 1.1623, Tuesday's maximum.
EUR/USD: On Friday the pair rose by 0.52% to 1.1513, recovering from the 1.1433 minimum. The euro received support after Bloomberg reported that British Prime Minister Theresa May was ready to abandon the basic requirement for inspection of cargo on the Irish border. The question of the border with Ireland is one of the main obstacles to the signing of an agreement on Brexit between the EU and the UK.
On the last Friday’s session, the EURUSD initially fell but found enough buying pressure near 1.1432 (October low) to reverse and closed near the high of the day, however, managed to close within Thursday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading below the 10, 50 and the 200-day moving averages, all should provide a dynamic resistance.
The key levels to watch: daily resistance at 1.1829, 61.8 Fibonacci expansion at 1.1795 (resistance), daily resistance at 1.1753, a key level at 1.1684 (resistance), the 50-day moving average at 1.1605 (resistance), a daily resistance at 1.1555, the 10-day moving average at 1.1533 (resistance) and a daily resistance at 1.1459 and a 2018 low at 1.1300 (support).
The euro fell against the US dollar on Monday. By the close of US trading, EUR / USD was trading at 1.1464, losing 0.43%. I believe that support is now at 1.1433, Friday's low, and resistance is likely at the level of 1.1585, the maximum of Wednesday.
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