Thursday, October 15, 2026

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FxWirePro: EUR/USD reverses recent rally, bias back to downside

EUR declined against US dollar on Friday after data showed US home sales rose more than expected in April. The pair extended its decline from 1.1237 to hit low at 1.1202 in the early US session. Further upside is expecte…

By Keith Miller
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • EUR declined against US dollar on Friday after data showed US home sales rose more than expected in April. 
     
  • The pair extended its decline from 1.1237 to hit low at 1.1202 in the early US session.
     
  • Further upside is expected to be limited as the pair faces strong resistance at 1.1293 which should limit upside and bring decline towards 1.1200 and 1.1150 levels in the short term.
     
  • To the upside, the strong resistance can be seen at 1.1294, a break above will take the pair towards next resistance level at 1.1350.
     
  • To the downside immediate support can be seen at 1.1178 levels, a break below will open gates towards 1.1138 levels.


    Resistance Levels

    R1: 1.1237 (50% Retracement level)

    R2: 1.1293 (61.8% Retracement level)

    R3: 1.1350 (May 17th high)

    Support Levels

    S1: 1.1178 (38.2% Retracement level)

    S2: 1.1138 (March 24th lows)

    S3: 1.1106 (23.6% Retracement level)

 

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By FxWirePro Team