Home›Forex›Major Pairs›EUR/USD struggles to hold above 1.1500 amid technical…

EUR/USD struggles to hold above 1.1500 amid technical resistance

The euro has support near 1.1400, but a break below 1.1375 could open a path toward 1.1320, according to technical levels cited by Action Forex.

Reported · Written up by our desk · Major Pairs

EUR/USD is trading below key resistance after failing to settle above 1.1480 and the 1.1500 area, Action Forex said. The pair rose above 1.1440 and reached 1.1482, then started a downside correction.

On the 4-hour chart, the analysis points to the pair being stuck below the 100 and 200 simple moving averages. It also flags potential resistance at 1.1480 and 1.1500, noting that a close above 1.1500 could set up a steadier rise.

For the downside, Action Forex highlighted support near 1.1400, with a rising channel forming around that level. The first major support is seen near 1.1375, and a break and close below 1.1375 could push the pair toward 1.1320, with further losses raising the risk of a test near 1.1250.

The outlet also cited context from GBP/USD, saying it gained pace to test 1.3560 after moving above 1.3500, then pulled back. WTI crude oil was reported as trading above $84.00 during the same session.

Latest closeWTI crude $79.00 ▼0.8%|EUR/USD 1.145 ▼0.2%|GBP/USD 1.348 ▼0.5%

More like this

Sources