FxWirePro: EUR/USD gains some upside momentum but still bearish
The EUR/USD pair traded in tight range today in the early US session hitting few pips low around 1.1127 before recovering back to trade at 1.1163 levels. However, further advance towards higher levels should be limited a…
The EUR/USD pair traded in tight range today in the early US session hitting few pips low around 1.1127 before recovering back to trade at 1.1163 levels.
However, further advance towards higher levels should be limited as the euro is set to weaken as US rate hike speculation is set to strengthen the green back in the short term.
To the upside, the strong resistance can be seen at 1.1232, a break above will take the pair towards next resistance level at 1.1312.
To the downside strong support can be seen at 1.1100 levels, a break below will open the door towards next level at 1.1050.
