FxWirePro: EUR/USD resumes downside after failing to break above 1.1375 levels
EUR /USD declined sharply on Friday, after US retail sales data printed better than expected figures at 1.3%. Immediately after the data release the pair declined almost 50 pips. Currently the pair is trading around 1.12…
EUR /USD declined sharply on Friday, after US retail sales data printed better than expected figures at 1.3%. Immediately after the data release the pair declined almost 50 pips.
Currently the pair is trading around 1.1294 levels and it is expected decline further towards 1.1250 and 1.1200 levels in the short term.
Short pullback around 1.1300 should be taken as selling opportunities, as Euro is weaker against the US dollar in intraday trading.
To the upside, the strong resistance can be seen at 1.1314, a break above this level would take it to upside to next resistance level at 1.1376.
To the downside immediate support can be seen at 1.1276, a break below this level will take the pair to next level at 1.1252 levels.
