EURUSD Daily Forecast Feb 11 2020

EURO dollar 6598636u0

EURUSD: Closes Below 1.0930, Eyes Further Weakness…

The EURUSD remains on the downside as long as 1.0930 – broken support turned resistance – holds on a daily closing basis. Support comes at the 1.0890 levels. A halt is likely, it may test 1.0930 before attempts top break lower. However; below 1.0890 aims the 1.0855 level, further down, support comes in the 1.0825 level ahead of 1.0785 level.

On the upside, resistance comes at the 1.0930 levels. Above that level sees limited recovery to the 1.0963/1.1015 levels before another fall…

In conclusion: The EURUSD sees downside threats below 1.0930 levels…

Support: 1.0890, 1.0855, 1.10825, 1.0785

Resistance: 1.0930, 1.0963, 1.1015, 1.1047

EURUSD Daily Forecast Feb 11 2020Key data/events which may affect EURUSD today:

  • ECB President Lagarde Speaks at 14:00 GMT.
  • Fed Chair Powell Testifies at 15:00 GMT.