FxWirePro: EUR/USD gains some upside momentum but still bearish
EUR has made short squeeze against US dollar by hitting high at 1.1263 after negative Existing Home Sales. However, the gains should be limited around 1.1280 as the resistance level at 1.1300 is set to hold the bulls fro…
EUR has made short squeeze against US dollar by hitting high at 1.1263 after negative Existing Home Sales.
However, the gains should be limited around 1.1280 as the resistance level at 1.1300 is set to hold the bulls from advancing further, and bring a decline towards lower levels in the short term.
To the upside, the strong resistance can be seen at 1.1300, a break above this level would take the pair towards next resistance level at 1.1360 levels.
To the downside immediate support can be seen at 1.1233 levels, a break below this level will open the door towards next level at 1.1200.
