The EUR /USD pair declined on Thursday as greenback bullish run against euro continued as Trump unexpectedly victory over Democratic rival Hillary Clinton, caused investors to flee to safe-haven assets. The dollar also…
The EUR /USD pair declined on Thursday as greenback bullish run against euro continued as Trump unexpectedly victory over Democratic rival Hillary Clinton, caused investors to flee to safe-haven assets.
The dollar also gained as investors concluded a December Federal Reserve interest rate hike remained on the cards following Donald Trump's election as U.S. president.
The ongoing weakness is set to continue for this pair as the resistance level at 1.0961 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.0913, a break above this level would expose the pair to next resistance level at 1.0961.
To the downside, immediate support can be seen at 1.0861, a break below at this level will open the door towards next level at 1.0821.
