Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/USD gains some upside momentum but still bearish

  • The EUR /USD pair fell as low as 1.1139 during the early European session, however the pair inched up slightly to trade at 1.1163 after finding minor support at 1.1139.
     
  • The ongoing weakness is set to continue for this pair as the resistance level at 1.1252 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
     
  • To the upside, the immediate resistance can be seen at 1.1171, a break above this level would expose the cable to next resistance level at 1.1211.
     
  • To the downside, immediate support can be seen at 1.1131, a break below at this level will open the door towards next level at 1.1081.

    Resistance Levels

    R1:  1.1171 (50% Retracement level)       

    R2: 1.1211 (61.8% Retracement level)    

    R3: 1.1252 (Sep 2nd high)

    Support Levels

    S1: 1.1131 (38.2% Retracement level)                    

    S2: 1.1081 (23.6% Retracement level)

    S3: 1.1042 (Aug 5th lows)
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.