FxWirePro: EUR/USD resumes upside after breaking resistance level at 1.1300
The EUR/USD pair inched higher on Monday as the pair attracted buyers as weak dollar and falling oil prices increased the demand for euro. The pair initially dipped towards 1.1274 levels in the early European session. Ho…
The EUR/USD pair inched higher on Monday as the pair attracted buyers as weak dollar and falling oil prices increased the demand for euro.
The pair initially dipped towards 1.1274 levels in the early European session. However it recovered all the lost ground in the US session.
Risk aversion dominated the Asian session and European session, leading to a strong advance in the Japanese yen and putting stocks and commodities currencies under pressure.
The pair is trading around 1.1335 levels and it is expected advance further towards 1.1350 and 1.1380 levels in the short term.
To the upside, the strong resistance can be seen at 1.1380, a break above will take the pair towards next resistance level at 1.1400.
To the downside immediate support can be seen 1.1300 levels, a break below will open gates towards 1.1296 levels.
