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Has EURUSD Found Resistance At 1.1750?

Jul 29 2020, 07:06 PM (+06) | Orbex.com

The common currency is trading a tad weaker but not before prices attempted to breakout above the 1.1750 level.

Price action closed with a strong bearish engulfing near this level suggesting that resistance is likely forming here. But a breakdown of the steeper trend line will confirm if the downside will be validated.

For the moment, the bullish momentum is still in play meaning that price action can still rebound to the upside.

A daily close above 1.1750 will confirm the potential for a move higher.

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