FxWirePro: EUR/USD approaching key support at 1.1022, sell deals are recommended below 1.1050

 

• EUR/USD opened with gap, hit lows at 1.0970, in the early the Asian session and bounced back towards 1.1095 (June 6^th high). Due to Greece's no referendum vote on Sunday.

• The pair is currently trading around 1.1026 level. It is expected to decline further towards 1.1000 and 1.0900 later.

• To the upside, the immediate resistance sits at 1.1064. A break above this level would take it  to next resistance level at 1.1105 (61.2% Retracement level).To the downside, the first support level lies at 1.1000 (38.2% Retracement level).

Recommendation: Go short below 1.1054, targets 1.0980, 1.0940,

Resistance Levels

R1: 1.1064                           

R2: 1.1105(61.2% Retracement level of 1.1240 to 1.0900)              

R3: 1.1157

Support Levels

S1: 1.1000

S2: 1.0970 (23.6% Retracement level)    

S3: 1.0950