This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The euro is trading higher amid a greenback that is broadly lower.
The gains come as the EURUSD has managed to consolidate above the 1.1715 level of support. This could potentially keep the gains with the EURUSD likely to rise further.
However, the trend line could act as dynamic resistance which will keep a lid on further gains above 1.1900.
To the downside, the support level near 1.1715 will be retested once again.
As long as this support holds, we expect to see the EURUSD building up the bias to the upside.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.