EURUSD at Resistance – Will It Drop to 1.11720?OANDA:EURUSD is currently trading near a strong resistance level, which is an area where price has struggled to break through in the past and reversed to the downside. This is also where sellers have previously stepped in, so it’s worth watching—especially for anyone considering short trades.
If we start to see signs that price is being rejected here—such as long wicks, bearish candles, or buyers starting to lose momentum—I think we could see a move down to the 1.11720 level. But if price breaks clearly above this area, it could invalidate the bearish idea and suggest that the uptrend may even continue.
This area is quite important and could help give us a clearer idea of the next direction of price.
Just sharing my thoughts on support and resistance—this is not financial advice. Always confirm your setup and manage your risk wisely.
