13 Oct

EURUSD Trades Flat, But Steady Above 1.1800

October 13, 2020

By Orbex

The euro currency is trading rather muted on Monday. Price action did not make many gains as the US markets are closed on account of Columbus Day bank holiday.

On an intraday basis, the euro briefly tested the 1.1800 level. The euro was pushed back higher after prices were rejected below this level.

Looking at the Stochastics oscillator, we could see another bout of strength in the common currency.

Therefore, it is quite possible for the 1.1900 level to become the next key resistance level to be tested.

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By Orbex


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