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EURUSD Resumes Gains, But Can It Break Past 1.1000?

May 27 2020, 02:11 PM (BDT) | Orbex.com

eurusd

The single currency caught a bid as the dollar was soft. As a result, the EURUSD is rising over 0.65% intraday.

Prices remain well below the resistance area of 1.1000 level for now. Given the positioning in the Stochastics oscillator, the momentum could give out.

In this scenario, we expect the EURUSD to pullback lower once again.

But, with support firm at the 1.0885 region, the bias is slightly shifting to the upside for now.

Any gains will come only upon a successful breakout above the 1.1000 level.

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