FxWirePro: EUR/USD breaks resistance at 1.0850 levels, scope for further upside

The pair found renewed bullish momentum after breaking resistance level at 1.0850 and is inching upwards to test next resistence level at 1.0950. 

• The pair is trading around 1.0908 levels and it is expected advance further towards 1.0940 and 1.0980 levels in the short term.
   
• Short pullback around 1.0880 should be viewed as buying opportunities, as Euro is stronger against the US dollar in intraday trading.
   
• To the upside, the strong resistance can be seen at 1.0950, a break above this level would take it to upside to next resistance level at 1.0997 handle.
   
• To the downside immediate support can be seen at 1.0850, a break below this level will take the pair to next level at 1.0800 levels.
  
  Recommendation: Go long around 1.0880, targets 1.0940, 1. 980, SL 1.0800
  
  Resistance Levels
  
  R1: 1.0950 (50% Retracement level)
  
  R2: 1.0997(Dec 28th high)
  
  R3: 1.1050 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.0850 (38.2% Retracement level)
  
  S2: 1.0800 (Psychological levels)
  
  S3: 1.0767 (Jan 7th lows)