EURUSD Technical Analysis – July 9, 2021

EURUSD rose on Thursday, and the technical bias is bullish due to higher highs in the recent downtrend.

The pair is currently 1.18432, and multiple resistance can be seen above which may prevent the price from rising further,

  • Resistance level 1: 1.18600
  • Resistance level 2: 1.18800
  • Resistance level 3: 1.18950

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

  • Support level 1: 1.18350
  • Support level 2: 1.18200
  • Support level 3: 1.18050

On July 13th, next Tuesday, the United States will announce the inflation figures for June. Higher data will indicate 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 good trading choice to buy the EURUSD currency pair near the current level.