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EUR/USD – confluence of trend line support put to test

FX:EURUSD   Euro Fx/U.S. Dollar
Resistance – 1.1342-1.1376, 1.14, 1.1465

Support – 1.12, 1.1144, 1.1088

  • EUR/USD is now trading below confluence of rising trend line support levels seen in the range of 1.1260-1.1275.
  • If violated on day end closing basis, prices could drift lower to sub 1.12 levels next week.
  • On the contrary, a recover back above 1.1260 followed by violation at 1.1342 would shift risk in favor of a rise to 1.1450 levels.

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