FxWirePro: EUR/USD changes short term trend from bullish to bearish
The EUR/USD pair has declined towards lower levels on Tuesday, as the US dollar gained strength across the board as weak Chinese data and Brexit worries triggered a fresh scramble for most liquid assets. At the moment th…
The EUR/USD pair has declined towards lower levels on Tuesday, as the US dollar gained strength across the board as weak Chinese data and Brexit worries triggered a fresh scramble for most liquid assets.
At the moment the pair is trading around 1.1061 levels and it is expected to decline further towards 1.1000 and 1.0965 levels as the resistance level at 1.1106 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 1.1106, a break above this level would take the pair towards next resistance level at 1.1152 levels.
To the downside immediate support can be seen at 1.1061 levels, a break below this level will open the door towards next level at 1.1000.
