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Euro Slips From Support, Price Action Remains Firm

Apr 16 2020, 06:25 PM (BDT) |


EURUSD is down over 0.60% on the day.

This came as price strongly broke past the price level of 1.1055.

However, the euro quickly reversed the declines. Price action is back near the 1.1055 level for the moment.

A breakout above this level is needed to confirm the upside momentum.

Alternatively, if there is more selling pressure, then we expect prices to move lower.

The previous support area near 1.0787 will be the downside target.

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