FxWirePro: EUR/USD resumes downside after failing to break above 1.1170 levels
The EUR/USD pair resumed its bearish trend on Monday as euro was back under bearish pressure on markets bet that the U.S. Federal Reserve was still likely to raise interest rates in the coming months, despite last week’s…
The EUR/USD pair resumed its bearish trend on Monday as euro was back under bearish pressure on markets bet that the U.S. Federal Reserve was still likely to raise interest rates in the coming months, despite last week’s disappointing U.S. jobs numbers.
The pair is all set to move in quick succession towards 1.1100 levels in the near term, as dollar is set to strengthen against euro in the short term.
To the upside, the strong resistance can be seen at 1.1211, a break above this level would take the pair towards next resistance level at 1.1251 levels.
To the downside, immediate support can be seen at 1.1131 levels, a break below this level will open the door towards next level at 1.1081.
