FxWirePro: EUR/USD supported above 1.1000, bullish bias set to continue above 1.1020

 

• EUR/USD rebounded after hitting support Level at 1.1022, and is set to reaching resistance level at 1.1090. The pair is set to reach 1.1100 and 1.1150 handle soon in the short term.

• The pair is trading at, 1.1066 level currently. Major resistance can be  seen at 1.1120, a break above at this level will open the door to 1.1150 level. To the downside, immediate support can be seen at 1.1022.

Recommendation: Go long above 1.1020, targets 1.1080, 1.1120, 1.0915

Resistance Levels

R1: 1.1090 (July 8^th high)               

R2: 1.1120 (38.2% Retracement level of 1.0915 to 1.1245)             

R3: 1.1150

Support Levels

S1: 1.1022 (23.6% Retracement level)

S2: 1.1000           

S3: 1.0970