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EUR USD Forecast | Daily Technical Analysis for February 13, 2017

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EUR USD Forecast | Daily Technical Analysis for February 13, 2017

 

EUR USD Technical Overview

Yesterday Close          1.0640
Today Open                1.0636
Day’s Range   1.0608 – 1.0709
52 wk Range   1.0339 – 1.1616
1-Year Change – 5.67%

 

EUR USD Technical Forecast

Our Possible trading range for today 1.0608 – 1.0709

 

Support 1: 1.0616 Resistance 1: 1.0632
Support 2: 1.0612 Resistance 2: 1.0636
Support 3: 1.0604 Resistance 3: 1.0644

 

EUR USD Fundamental Analysis

EURUSD has been under pressure since Friday and today morning as well as the dollar has been gaining in strength across the board. The dollar strength is expected to continue for the rest of the week and so it would be interesting to see how the pair would cope up with the pressure. So far, the region around 1.060 has been holding on and repeated attempts by the bears to break down this region has been futile. But at the same time, the dollar strength has not been razing down other currencies but it has been a slow and steady build up of strength which means that if this continues, it would only be a matter of time before the support is broken through.

Looking ahead to today, we do not have any major economic news from the US or the Eurozone and so we can safely expect the dollar strength to continue and for the EURUSD pair to be under pressure for the rest of the day.