FxWirePro: EUR/USD pauses uptrend, scope for downward resumption
EUR/USD inched slightly higher in the early US Session, as investors seem guarded from making big bets ahead of the release of the minutes of the Federal Reserve's July policy meeting. The intraday trend remains bearish …
EUR/USD inched slightly higher in the early US Session, as investors seem guarded from making big bets ahead of the release of the minutes of the Federal Reserve's July policy meeting.
The intraday trend remains bearish for the pair as euro is set to come under pressure as the US dollar is set to strengthen on US rate hike view.
To the upside, the immediate resistance can be seen at 1.1277, a break above this level would expose to cable to next resistance level at 1.1313.
To the downside immediate support can be seen at 1.1240, a break below will open the door towards next level at 1.1196.
