EUR/USD rebounds from 1.1770 support
The euro’s decline against the U.S. dollar was limited by support near 1.1770, where renewed demand helped the pair recover above the previously broken 1.1790 level and test 1.1800.
Overall, the pair’s outlook remains constructive. If the current EUR/USD resistance is broken, the advance may continue toward 1.1820-1.1835. A loss of support at 1.1790 would increase the risk of a break below 1.1770 and a decline toward the 1.1740-1.1720 range. At the same time, the current rebound may still be used as a selling opportunity.
In the near term, the pair may continue to trade sideways within a range.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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