FxWirePro: EUR/USD key support at 1.1290, upside prevails in the short term
The Euro declined against dollar in US session after Core CPI figures from the US market printed positive figures. However, the pair is consolidating above 1.1352 support level and a rebound towards higher levels is expe…
The Euro declined against dollar in US session after Core CPI figures from the US market printed positive figures. However, the pair is consolidating above 1.1352 support level and a rebound towards higher levels is expected sooner or later as the dollar will once again come under selling pressure. Therefore it's good to buy this pair above at 1.1350 levels.
To the upside, the strong resistance can be seen at 1.1400, a break above this level would take the pair towards next resistance level at 1.1450 (Oct 14th high) levels.
To the downside immediate support can be seen at 1.1352, a break below this level will open the door towards next level at 1.1333.
Recommendation: Go long above 1.1350, targets 1.1390, 1.1430, SL 1.1290
