The common currency could remain under pressure after bearish outside-day reversal. Yuan sell-off will likely keep USD better bid. The EUR/USD is mildly bid around 1.1650 but may surrender gains in Europe, courtesy of bearish technical setup and Yuan sell-off. The currency pair closed on a negative note at 1.1638 yesterday, validating Tuesday’s bearish outside-day candle. Thus, the recent low of 1.1508 (June 21 low) stands exposed. Further, the Chinese Yuan fell to 3.7398 per dollar in Asia, its lowest level since July 28, 2017, on trade-related uncertainty. As a result, greenback – the new safe haven asset – will likely remain bid against the EUR and most majors. EUR/USD Technical Levels Resistance: 1.1667 (20-day moving average), 1.1745 (Tuesday’s bearish outside-day candle’s high), 1.1791 (July 9 high). Support: 1.1602 (previous day’s low), 1.1570 (lower Bollinger Band), 1.1508 (June 21 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum price analysis: ETH/USD back below $500; Vitalik Buterin says the spam attack on ETH network costed up to $15M FX Street 5 years The common currency could remain under pressure after bearish outside-day reversal. Yuan sell-off will likely keep USD better bid. The EUR/USD is mildly bid around 1.1650 but may surrender gains in Europe, courtesy of bearish technical setup and Yuan sell-off. The currency pair closed on a negative note at 1.1638 yesterday, validating Tuesday's bearish outside-day candle. Thus, the recent low of 1.1508 (June 21 low) stands exposed. Further, the Chinese Yuan fell to 3.7398 per dollar in Asia, its lowest level since July 28, 2017, on trade-related uncertainty. As a result, greenback - the new safe… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
