This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
EUR/USD rallies into key resistance level
EUR/USD has managed to rally through a number of resistance points, with the price almost hitting the $1.1746 high from late August. The ability to rally through this $1.1746-$1.1790 resistance zone is going to be key in determining whether we are set for further upside or not.
As such, watch for a potential period of weakness if we do not break higher. With trendline support helping encourage further upside we would want to see a break below that line alongside the $1.1594 level to signal a bearish shift for the pair.