EUR /USD pair inched higher against US dollar by hitting high at 1.1377 during mid-European hours, after buyers stepped. However, the pair slipped back towards 1.3340 levels after US session opened.The support level at 1.1315 is set to hold the bears from falling further, and bring a rebound towards higher levels, therefore it's good to buy this pair above 1.1315 levels.
- To the upside, the strong resistance can be seen at 1.1370, a break above this level would take the pair towards next resistance at 1.1400 (Psychological level).
- To the downside immediate support can be seen at 1.1315 levels, a break below this level will open the door towards next level at 1.1270.
Recommendation: Go long above 1.1315, targets 1.370, 1.1430, SL 1.1240
Resistance Levels
R1: 1.1370 (23.6% Retracement level)
R2: 1.1400 (Psychological level)
R3: 1.1457 (Sep 18th high)
Support Levels
S1: 1.1315 (38.2% Retracement level)
S2: 1.1270 (50% Retracement level)
S3: 1.1227 (61.8% Retracement level)
