EURUSD Technical Analysis – July 14, 2021

EURUSD fell on Tuesday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.17774, and multiple resistance level can be seen above which may prevent the price from rising further.

  • Resistance level 1: 1.17930
  • Resistance level 2: 1.18050
  • Resistance level 3: 1.18250

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 1.17550
  • Support level 2: 1.17350
  • Support level 3: 1.17100

The United States will announce the June retail sales data on Friday. Higher data will indicate that it is beneficial to the US dollar, so it is negative for the EURUSD currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the EURUSD currency pair near the current level.