Euro Continues To Extend Declines
The common currency is trading weaker on Monday’s open, extending on the declines from last Friday. This comes as price failed to breach the previous two-year highs.
The dollar strength is also adding to the current weakness in EURUSD. Price action is trading near the 1.1750 level of support.
From the Stochastics oscillator, there is a possibility that EURUSD might hold on to this support.
A rebound off this level could see another attempt to the upside.
But in case the euro slips below the 1.1750 handle, then we could expect a move toward the 1.1600 level of support next.
Test your strategy on how the euro will fare with Orbex - Open your account now.