FxWirePro: EUR/USD tests key 1.0976 level, scope for further upside
The pair has found renewed bullish momentum after breaking strong resistance at 1.0940 and is moving upwards to test next resistance level at 1.0976. The pair is trading around 1.0955 levels and it is expected advance fu…
The pair has found renewed bullish momentum after breaking strong resistance at 1.0940 and is moving upwards to test next resistance level at 1.0976.
The pair is trading around 1.0955 levels and it is expected advance further towards 1.0990 and 1.0060 levels in the short term.
Short pullback around 1.0940 should be taken as buying opportunities, as Euro is stronger against the US dollar in intraday trading.
To the upside, the strong resistance can be seen at 1.0976, a break above this level would take it to upside to next resistance level at 1.1000 handle.
To the downside immediate support can be seen at 1.0940, a break below this level will take the pair towards 1.0900 levels.
Recommendation: Go long around 1.0940, targets 1.0980, 1. 0050, SL 1.0880
