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FxWirePro: EUR/USD rejected at 1.1214, eases below 200 DMA

EUR/USD was earlier rejected at day's high by 1.1214, slips below 200 DMA at 1.1185. Major European indices opened in the red, further weighing on the pair The pair failed to sustain recent breaks under 55 DMA ( 1.1130),…

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EUR/USD was earlier rejected at day's high by 1.1214, slips below 200 DMA at 1.1185.

  • Major European indices opened in the red, further weighing on the pair
     
  • The pair failed to sustain recent breaks under 55 DMA ( 1.1130), and a close below that level could see further weakness
     
  • EUR/USD is currently trading at 1.1173, with immediate resistance at 1.1215 (Hourly High Sept 28) and support at 1.1130 (55 DMA)
     
  • US personal spending data along with speeches from the Fed officials will be in focus for direction 

Resistance Levels:

R1: 1.1215 (Hourly High Sept 28)

R2: 1.1234 (21 DMA, High Sept 25)

R3: 1.1239 (DMA)

Support Levels:

S1: 1.1129 (55 DMA)

S2: 1.1116 (Daily Low Sept 25)

S3: 1.1105 (Daily Low Sept 23)

 

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