The EUR/USD pair edged higher this morning around 1.1868 levels. The Euro climbed in the morning on Tuesday, but gave back almost all of its gains in the European afternoon. There was no significant economic data out of the Eurozone on Tuesday. In the United States, retail sales figures were weaker than forecast. Core Retail Sales for October printed at 0.2%. Analysts were forecasting an increase of 0.6%. Industrial Production for October rose 1.1%, slightly better than forecast.
Bulls amassed positions around the support zones of 1.1760 and 1.1800 as sentiment remains positive – for a charge at the resistance level at 1.1892. If this zone is breached the rally might take off, with the first target being the resistance at 1.2010. Bulls can expect intraday support at around 1.1840, while the more substantial one can be found at 1.1800.
EURUSD Support & Resistance Table – 18/11/2020
|Support & Resistance||Level||Explanation|
|Resistance 2||1.1911||Daily R2|
|Resistance 1||1.1894||Daily R1|
|Support 1||1.1846||Daily S1|
|Support 2||1.1829||Daily S2|
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