FxWirePro: EUR/USD consolidating around 1.1278, bias is bullish
The EUR/USD inched higher on Tuesday as the single currency gained as investors shunned riskier assets ahead of what is expected to be a busy Thursday, when Britain goes to the polls and former FBI director James Comey t…
The EUR/USD inched higher on Tuesday as the single currency gained as investors shunned riskier assets ahead of what is expected to be a busy Thursday, when Britain goes to the polls and former FBI director James Comey testifies before Congress.
Comey, who was investigating a possible collusion between Donald Trump's presidential campaign and Russia to sway the 2016 U.S. election, was fired in May.
Investors will also watch out for the European Central Bank's meet, where policymakers are expected to take a more benign view of the economy.
Currently, the currency pair is trading at 1.1280 levels, it is set to advance further towards 1.1310 and later 1.1350 levels in the short term.
To the upside, immediate resistance can be seen at 1.1278, a break above this level would take the pair towards next resistance level at 1.1300.
To the downside, strong support can be seen at 1.1220 levels, a break below this level will open the door towards next level at 1.1190.
