EUR/USD Forecast July 1, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 01 July 2016 05:40 UTC
The EUR/USD pair initially tried to rally during the day on Thursday, but turned right back around to fall fairly significantly during the day. The previous uptrend line acted as resistance, and now it appears that we will probably try to grind our way down to the 1.10 level, and then perhaps even lower than that. With as much uncertainty as there is in the European Union, it makes sense that the Euro will continue to be sold off against the US dollar as it tends to be a fairly attractive currency when people are looking for safety.

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