The single currency of the European Union region rose during the US session to rebound to a sixth session in eight sessions from its lowest since June 27, 2017, against the US dollar amid a lack of economic data from the Eurozone economies and following developments, and economic data that followed on Wednesday.
Today, at the opening of the Asian session, the EURUSD rose to 1.1390 from the opening levels of 1.1381 after the pair reached a high of 1.1399 while the lowest at 1.1378.
Technical analysis:
EURUSD fluctuated near the 1.1400 level and remains below it while Stochastic continues to provide negative signals. SMA 50 is pushing the price and pushing for further downside and as long as the price is below 1.1443, the downside scenario will remain likely over the coming sessions, The major starts at 1.1300 and extends to 1.1181.
Support and resistance:
Support: 1.1386-1.1341-1.1292-1.1216;
Resistance: 1.1452-1.1500-1.1550.
The general path is closer to the landing.