FxWirePro: EUR/USD runs out of steam but maintains bullish outlook
EUR/USD edged higher on Thursday as the pair was dragged higher after the Bank of England wrong-footed investors by holding interest rates steady at its first meeting since Britain's vote last month to leave the European…
EUR/USD edged higher on Thursday as the pair was dragged higher after the Bank of England wrong-footed investors by holding interest rates steady at its first meeting since Britain's vote last month to leave the European Union.
The pair rose to hit high at 1.1163 before retreating back to trade at 1.1111 in the early US session.
Further downside is expected to be limited as the pair faces strong support at 1.1057 which should limit downside and bring rebound back to the higher side.
To the upside, the strong resistance can be seen at 1.1147, a break above will take the pair towards next resistance level at 1.1200.
To the downside immediate support can be seen at 1.1102 levels, a break below will open gates towards 1.1057 levels.
