FxWirePro: EUR/USD reverses recent rally, bias back to downside
EUR/USD pair declined in the US session as dollar rebounded as concerns over the outlook for the U.S. election eased on Monday. Dollar declined on Friday after the Federal Bureau of Investigation said it would investigat…
EUR/USD pair declined in the US session as dollar rebounded as concerns over the outlook for the U.S. election eased on Monday.
Dollar declined on Friday after the Federal Bureau of Investigation said it would investigate additional emails relating to Hillary Clinton's use of a private server, roiling the presidential campaign.
The ongoing weakness for this pair is set to continue as resistance level at 1.1035 levels should limit upside and bring decline towards lower levels in the short term.
To the upside, immediate resistance can be seen at 1.0988 a break above this level would take the pair towards next resistance level at 1.1035.
To the downside, strong support can be seen at 1.0940 levels, a break below this level will open the door towards next level at 1.0880.
