EURUSD gains some upside momentum but outlook bearish
EUR /USD has pair has made short squeeze against US dollar by hitting high at 1.1226 in the early US session, after the pair found support at 1.1166. However, the gains should be limited as the resistance level at 1.1234…
EUR /USD has pair has made short squeeze against US dollar by hitting high at 1.1226 in the early US session, after the pair found support at 1.1166.
However, the gains should be limited as the resistance level at 1.1234 is set to hold the bulls from advancing further, and bring a decline towards lower levels in the short term.
To the upside, the strong resistance can be seen at 1.1261, a break above this level would take the pair towards next resistance level at 1.1300 levels.
To the downside immediate support can be seen at 1.1201 levels, a break below this level will open the door towards next level at 1.1166.
