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EURUSD Struggles To Break Out Above 1.1000

May 22 2020, 06:53 PM (+06) | Orbex.com

eurusd

The euro currency’s rally finally saw prices rising to the 1.1000 level.

However, there are early indications suggesting a pullback. This will keep EURUSD range bound within 1.1000 and 1.0736 for the time to come.

However, the pullback, if confirmed, will see the euro falling back to the lower price level at 1.0885 – 1.0879.

If support successfully forms here and prevents the euro from further declines, then that opens the upside for the currency pair.

A potential breakout above 1.1000 level could happen which could see further gains coming through.

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