FxWirePro: EUR/USD changes short term trend from bullish to bearish
EUR/USD declined to trade around 1.1199 levels, giving up earlier gains made in early US session as better than expected U.S. core capital goods orders boosted greenback, while uncertainty continued about Federal Reserve…
EUR/USD declined to trade around 1.1199 levels, giving up earlier gains made in early US session as better than expected U.S. core capital goods orders boosted greenback, while uncertainty continued about Federal Reserve’s rate hike path.
Fed Chair Janet Yellen did not comment on the outlook for the economy or monetary policy in prepared testimony for a House of Representatives Financial Services Committee hearing.
Further upside in this pair should be limited as the resistance level at 1.1260 levels should limit upside and bring a decline towards lower levels.
To the upside, immediate resistance can be seen at 1.1218, a break above will take the pair towards next resistance level at 1.1260.
To the downside, immediate support can be seen at 1.1185 levels, a break below will open gates towards 1.1152 levels.
