Daily Technical Analysis Of EURUSD - Tuesday, Feb. 7

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Spotlight on EURUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.


Looking at EURUSD’s chart, we can see that the FX pair has dropped from its peak, above the level of $1.10, which was supported by the coolest rate hike increase and Powel’s speech on Wednesday, to the current rate of around $1.0730 which is supported by the decrease of announced unemployment rate and nonfarm payrolls of Friday. 

Today, if it manages to hold above its support level of around $1.0720-1.0730, we should expect it to rise towards its resistance level at around $1.08, otherwise, it could drop towards its next support level at around $1.0630.

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AAATrade's Daily Technical Analysis of EURUSD - 07/02/2023

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