EURUSD is near the strong support

EURUSD is near the strong support

2019-11-11 • Updated

On the daily chart of EURUSD, the pair touched the strong support at 1.1070. Traders are waiting for the American Prelim GDP data. If the actual release is higher than the forecast, the USD will be additionally supported and the risks of the further decline will increase. 

On H4, we can consider a continuation of the fall if the pair closes below the support. Next levels to watch are 1.1055 and 1.1028. 

If the pair rebounds from 1.1070, The resistance will lie at 1.1086.

EURUSDH4.png

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