EURUSD Technicals JULY WEEK 2
The EURUSD broke out of a descending channel resistance.
However, so far, buyers have been unsuccessful in pushing the price above the 1.1350 resistance level.
So, although the euro is holding above the 1.1230 support area, momentum is lacking.
As I’ve stated recently, it’s going to take a daily close above 1.1350 to confirm the break higher.
Such a breakout would expose 1.1420 and perhaps the 1.1500 handle.
Alternatively, a close below the 1.1230 area would signal weakness and expose the recent low at 1.1170.
However, so far, buyers have been unsuccessful in pushing the price above the 1.1350 resistance level.
So, although the euro is holding above the 1.1230 support area, momentum is lacking.
As I’ve stated recently, it’s going to take a daily close above 1.1350 to confirm the break higher.
Such a breakout would expose 1.1420 and perhaps the 1.1500 handle.
Alternatively, a close below the 1.1230 area would signal weakness and expose the recent low at 1.1170.
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