EUR/USD initially declined in the European session but recovered strongly in the US session to trade at 1.1217 levels as Deutsche Bank stocks rose and investors assessed a set of economic data. Euro was weighted down in …
EUR/USD initially declined in the European session but recovered strongly in the US session to trade at 1.1217 levels as Deutsche Bank stocks rose and investors assessed a set of economic data.
Euro was weighted down in the European session after Deutsche Bank shares touched an all-time low on worries about the financial stability of the largest German lender.
However, further upside in this pair should be limited as the resistance level at 1.1280 levels should limit upside and bring a decline towards lower levels.
To the upside, immediate resistance can be seen at 1.1221, a break above will take the pair towards next resistance level at 1.1250.
To the downside, immediate support can be seen at 1.1178 levels, a break below will open gates towards 1.1152 levels.
