The EUR/USD pair inched higher on Tuesday as the dollar was pressured by the single currency's renewed strength as relieved investors turned optimistic on Europe after the first round of the French presidential election.
The single currency stayed close to a 5 1/2-month high of $1.0940 hit the previous day, up 0.2 percent on the day by 1140 GMT at $1.0884, having finished Monday around 1.4 percent higher, its biggest one-day climb since June.
The currency pair remains under bulls control unless until it trades above 1.0812 support level, therefore it is good to buy this pair on dips.
To the upside, the immediate resistance can be seen at 1.0910, a break above this level would expose the pair to next resistance level at 1.0969.
To the downside, immediate support can be seen at 1.0864, a break below at this level will open the door towards next level at 1.0812.
Resistance Levels
R1: 1.0910 (38.2% Retracement level)
R2: 1.0969 (23.6% Retracement level)
R3: 1.1000 (Psychological levels)
Support Levels
S1: 1.0864 (50% Retracement level)
S2: 1.0812 (61.8% Retracement level)
S3: 1.0736 (March 29th lows)
