- The EUR/USD was little changed on Thursday as reports that markets had misinterpreted comments by European Central Bank President Mario Draghi on Tuesday kept investors cautious.
- European Central Bank President Mario Draghi said on Tuesday the ECB might tweak its stimulus so it does not become more accommodative as the economy recovers, though sources said on Wednesday he had not intended to signal imminent tightening.
- Dollar remained weak by disappointing economic data and waning bets that President Donald Trump's fiscal stimulus plans will pass the post.
- The ongoing upside is set to continue for this pair as the support level at 1.1338 is likely to act as strong barrier to the bears and push the pair towards higher side.
- To the upside, the strong resistance can be seen at 1.1445 a break above will take the pair towards next resistance level at 1.1500.
- To the downside, immediate support can be seen at 1.1390 levels, a break below will open the door towards next level at 1.1338.
Resistance Levels
R1: 1.1445 (38.2% Retracement level)
R2: 1.1500 (Psychological levels)
R3: 1.1500 (23.6% Retracement level)
Support Levels
S1: 1.1390 (50% Retracement level)
S2: 1.1338 (61.8% Retracement level)
S3: 1.1288 (June 28th lows)
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