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Euro Price Outlook: EUR/USD Resistance Re-Test at 1.1000

From forex.com

EUR/USD bulls continue to push, bringing price back to the 1.1000 psychological level after the pair spent six weeks below. The low set on the final day of May – at the same level that caught the lows in March of 2020 as the pandemic was getting priced-in, and buyers have been in varying stages of control since. The zone of resistance around 1.1000 has become somewhat of a deal for the single currency this year as it’s held advances in February and then again in April and into May. That second episode lasted for almost a full month, so the question remains as to whether resistance has been softened a bit and whether ... (full story)

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  • Category: Technical Analysis