EUR/USD is currently capped at the 1.1600 as bulls are trying to break the level to the upside. EUR/USD is taking its cues mainly from the US Dollar on data-light Wednesday. The single currency is mostly trading sideways on Wednesday as EUR/USD is oscillating between the 1.1536 and the 1.6010 levels. On data-light Wednesday EUR/USD is mainly taking its cues from technical trading and the development from the US-China trade war. Earlier in the day, ECB (European Central Bank)’s President Mario Draghi and the Federal Reserve Bank’s Chairman Jerome Powell shared a discussion panel the at the ECB (European Central Bank) Forum in Sintra, Portugal. However the forum had no major impact on the currency pair. It is worth remembering that ECB’s President Mario Draghi said last Tuesday that the ECB will remain patient and prudent in regards to when will start the next hiking cycle which is potentially bearish for EUR. Meanwhile, the US Dollar Index which gauges the strength of the greenback versus a basket of currencies is trading sideways finding support at 95.00 at the time of writing. EUR/USD 15-minute chart EUR/USD is currently trapped in a tight trading range between 1.550 and 1.1600. A breakout above 1.1600 could lead to a test of 1.1650 while a strong breakout below the 1.1550 can lead to a retest of 1.1510, current 2018 low. Spot rate: 1.1586 Relative change: 0.00% High: 1.1601 Low: 1.1536 Trend: Neutral Resistance 1: 1.1600 figure Resistance 2: 1.1645 June 19 high Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move Support 1: 1.1550 figure Support 2: 1.1510, current 2018 low Support 3: 1.1400 figure 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 Bitcoin Cash Price Analysis: BCH/USD jumps over 5% in the late afternoon on Wednesday, as price bounces off support within broadening wedge pattern, $1000 looming FX Street 3 years EUR/USD is currently capped at the 1.1600 as bulls are trying to break the level to the upside. EUR/USD is taking its cues mainly from the US Dollar on data-light Wednesday. The single currency is mostly trading sideways on Wednesday as EUR/USD is oscillating between the 1.1536 and the 1.6010 levels. On data-light Wednesday EUR/USD is mainly taking its cues from technical trading and the development from the US-China trade war. Earlier in the day, ECB (European Central Bank)'s President Mario Draghi and the Federal Reserve Bank's Chairman Jerome Powell shared a discussion panel the at the… Top 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.
