FxWirePro: EUR/USD consolidating around 1.1408 levels, bias is bullish
Euro inched against defensive US dollar on Thursday as investors doubted further rise in US interest rate in June following weak US employment data last week. The pair declined hit low at 1.1375 but recovered to trade at…
Euro inched against defensive US dollar on Thursday as investors doubted further rise in US interest rate in June following weak US employment data last week. The pair declined hit low at 1.1375 but recovered to trade at 1.1408 in the early US session.
Further the decline is expected to be limited as the pair faces strong support at 1.1360 as a result the pair is set advance further towards 1.1450 and 1.1480 levels in the short term.
To the upside, the strong resistance can be seen at 1.1460, a break above will take the pair towards next resistance level at 1.1494.
To the downside immediate support can be seen at 1.1360 levels, a break below will open gates towards 1.1303 levels.
