Key support is found at Friday’s low of 1.1540. From where I’m sitting though, any bounce this week will likely provide temporary relief given last week’s impulsive selloff.
EUR/USD Weekly Forecast - 18 June - 22 June
The EURUSD broke some significant support levels last week. Thursday’s massive 290 pip range took out the previous ten sessions and also closed well below the 2017 trend line.
For the week ahead, a retest of the 1.1650 area will likely attract selling pressure. And even if buyers manage to break above this area, the trend line from 2017 comes in just above 1.1650 near 1.1670.
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