FxWirePro: EUR/USD stuck in range but outlooks remains bearish
The EUR/USD pair inched higher towards 1.1398 levels gaining back the losses suffered in the earlier session in the early American session following soft US jobs data. The US Jobless data came out mixed, initial claims f…
The EUR/USD pair inched higher towards 1.1398 levels gaining back the losses suffered in the earlier session in the early American session following soft US jobs data.
The US Jobless data came out mixed, initial claims for state unemployment benefits declined 9000 to seasonally adjusted 267,000 in April.
Further upside is expected to be limited as the pair finds strong resistance at 1.1430 which should limit upside and bring a decline towards lower levels.
To the upside, the strong resistance can be seen at 1.1404, a break above this level would take it to upside to next resistance level at 1.1430.
To the downside immediate support can be seen at 1.1373, a break below this level will take the pair to next level at 1.1353 levels.
