EURUSD Eyes Resistance Before US Growth Data

Ahead of today's US growth data release, the EURUSD pair opened the day on a positive note. The 1.0730-1.0740 range will serve as the initial resistance level. Despite yesterday's durable goods orders data beating expectations and initiating an upward movement post-announcement, the pair tested yesterday's high during the Asian session. If it surpasses this level and the 1.0730 resistance, it has the potential to test the 200-day moving average at 1.0810. On the downside, the first crucial level to maintain the current momentum is at 1.0670. Below this, the short-term support lies at 1.0638, with a major support zone between 1.0600-1.0610. Any further declines could target the 1.0560 level.

 

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.0870	1.0810	1.0730	1.0670	1.0600	1.0560