FxWirePro: EUR/USD intraday upside momentum strong after Draghi comments
The EUR/USD pair rose higher on Tuesday as the single currency found buying interest after comments from European Central Bank President Mario Draghi highlighted a recovering economy. Comments from Draghi sounded positiv…
The EUR/USD pair rose higher on Tuesday as the single currency found buying interest after comments from European Central Bank President Mario Draghi highlighted a recovering economy.
Comments from Draghi sounded positive to investors, sending euro as much as one percent on the day to $1.1305, its highest level since Jun. 14.
The ongoing upside is set to continue for this pair as the support level at 1.1236 is likely to act as strong barrier to the bears and push the pair towards higher levels.
To the upside, the immediate resistance can be seen at 1.1307, a break above this level would expose the pair to next resistance level at 1.1352.
To the downside, immediate support can be seen at 1.1272, a break below at this level will open the door towards next level at 1.1236.
