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.
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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
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