FxWirePro: EUR/USD holds above 1.1200 but upside is limited
The pair declined initially in the early US session hitting as low as 1.1190 levels. However, after short buying interest the pair has inched upwards towards 1.1223 levels. Further upside should be limited as the pair fi…
The pair declined initially in the early US session hitting as low as 1.1190 levels. However, after short buying interest the pair has inched upwards towards 1.1223 levels.
Further upside should be limited as the pair finds strong resistance at 1.1270 levels, which should limit upside and push the pair towards lower levels.
Technically in the 1 hour chart the 55, 30 and 20 MA depicts a clear bearish slope above the current price action, the RSI is indicating towards downside at 43.
To the upside, the strong resistance can be seen at 1.1270, a break above will take the pair towards next resistance level at 1.1340.
To the downside immediate support can be seen 1.1187 levels, a break below will open gates towards 1.1163 levels.
