FxWirePro: EUR/USD runs out of steam but maintains bullish outlook
The EUR/USD pair traded in higher range on Monday as the pair was supported after reports surfaced that Deutsche Bank's was negotiating a smaller fine with the U.S. Department of Justice. Deutsche Bank is throwing its en…
The EUR/USD pair traded in higher range on Monday as the pair was supported after reports surfaced that Deutsche Bank's was negotiating a smaller fine with the U.S. Department of Justice.
Deutsche Bank is throwing its energies into reaching a settlement before next month's presidential election with U.S. authorities demanding a fine of up to $14 billion for mis-selling mortgage-backed securities.
Further downside in this pair should be limited as euro is set to strengthen against green back in the near term.
To the upside, the strong resistance can be seen at 1.1278 a break above will take the pair towards next resistance level at 1.1335.
To the downside, immediate support can be seen at 1.1213 levels, a break below will open the door towards next level at 1.1178.
