EUR/USD FOREX TRADING TIPS

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The recovery in EUR/USD from near 1.0550 region lost legs at daily highs of 1.0575, with the bears retaining control somewhat amid a rebound in the US treasury yields.

In terms of technicals, the pair finds the immediate resistance 1.0620 (weekly highs). A break beyond the last, doors will open for a test of 1.0636/39 (50 & 100-DMA) and from there to 1.0682 (Feb 16 high). On the flip side, the immediate support is placed at 1.0520 (Jan 6 low) below which 1.0500 (psychological levels) and 1.0478 (Jan 5 low) could be tested.

Current exchange rate of EUR/USD pair is 1.0568.

Our Latest Recommendation:

It is recommended to sell.

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