FxWirePro: EUR/USD gains some upside momentum but still bearish
The EUR /USD pair fell as low as 1.1139 during the early European session, however the pair inched up slightly to trade at 1.1163 after finding minor support at 1.1139. The ongoing weakness is set to continue for this pa…
The EUR /USD pair fell as low as 1.1139 during the early European session, however the pair inched up slightly to trade at 1.1163 after finding minor support at 1.1139.
The ongoing weakness is set to continue for this pair as the resistance level at 1.1252 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 1.1171, a break above this level would expose the cable to next resistance level at 1.1211.
To the downside, immediate support can be seen at 1.1131, a break below at this level will open the door towards next level at 1.1081.
