FxWirePro: EUR/USD intraday upside momentum strong after breaking resistance at 1.1220

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)