Daily technical analysis 11.17.2020

  • Post author:
  • Post category:Forex

EUR/USD Current level – 1.1862

Bulls amassed positions around the support zones of 1.1760 and 1.1800 as sentiment remains positive – for a charge at the resistance level at 1.1892. If this zone is breached the rally might take off, with the first target being the resistance at 1.2010. Bulls can expect intraday support at around 1.1840, while the more substantial one can be found at 1.1800. The Dollar slid mainly due to concerns regarding rising COVID-19 cases and the gradual transition of power to president-elect Biden. Today, higher volatility can be expected around the announcement of the retail sales (13:30 GMT) and industrial production (14:15 GMT) data for the U.S.

resistance
intradayintraweek
1.18921.1980
1.18921.2010
support
intradayintraweek
1.18401.1760
1.18001.1626