By Orbex
EURUSD Rises On German Data
The euro currency is posting modest gains on Tuesday. The common currency was lifted following better than forecast data on the German business climate.
Price action is, however, still making lower highs on the 4-hour chart time frame.
For the moment, the bias is mixed, but this could change if EURUSD slips below the recent swing low of 1.1770.
This would potentially open the way for EURUSD toward the support level near 1.1714.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
To the upside, price action will need to break out above 1.1848 and possibly rise further.
The next main resistance level is at the 1.1897 level.
By Orbex
- China has shifted to using its own strategic oil reserves Jun 9, 2026
- GBP/USD Remains Under Pressure Despite Attempts to Recover Jun 9, 2026
- SpaceX IPO: Set for $75 billion liftoff Jun 8, 2026
- On Friday, the American stock market experienced one of the strongest crashes in recent times Jun 8, 2026
- EUR/USD at April Lows: What’s Next for the Pair? Jun 8, 2026
- The ceasefire between Israel and Lebanon has reduced the geopolitical premium Jun 5, 2026
- EUR/USD: All Eyes on Non-Farm Payrolls Jun 5, 2026
- The escalation of the conflict in the Middle East put pressure on US and European stock indices Jun 4, 2026
- Gold Remains Under Pressure, but a Rebound Is Still Possible Jun 4, 2026
- Bitcoin drops below the psychological $70,000 level. The US stock indices hit new record highs Jun 3, 2026
