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The pair has found renewed bullish momentum after breaking strong resistance at 1.1222 and is moving upwards to test resistance formed on Feb 11th.
- Currently pair is trading around 1.1314 levels and it is expected advance further towards 1.1360 and 1.1400 levels in the short term.
- Short pullback around 1.1250 should be taken as buying opportunities, as Euro is stronger against the US dollar in intraday trading.
- To the upside, the strong resistance can be seen at 1.1332, a break above this level would take it to next resistance level at 1.1377.
- To the downside immediate support can be seen at 1.1277, a break below this level will take the pair to next level at 1.1220 levels.
Resistance Levels
R1: 1.1332 (38.2 % Retracement Level)
R2: 1.1377 (Feb 11th high)
R3: 1.1400 (23.6 % Retracement Level)
Support Levels
S1: 1.1277 (38.2 % Retracement Level)
S2: 1.1220 (50 % Retracement Level)
S3: 1.1200 (Psychological levels)
