FxWirePro: EURUSD consolidating around 1.1380, bias is bullish
The EUR/USD pair inched up towards 1.1380 on Tuesday, as the pair once again found buying interest around 1.1315 levels on growing appetite for risker assets. The pair after weak US housing data, broke above 1.1370 (50% …
The EUR/USD pair inched up towards 1.1380 on Tuesday, as the pair once again found buying interest around 1.1315 levels on growing appetite for risker assets.
The pair after weak US housing data, broke above 1.1370 (50% fib levels), but failed to advance further as the euro ran out of strength in mid-morning US session.
At the moment the pair is trading around 1.1380 levels and it is expected to advance further towards 1.1400 and 1.1450 levels as the support level at 1.1347 is set to hold the bears from falling further below, and push the pair towards higher levels.
To the upside, the strong resistance can be seen at 1.1384, a break above this level would take the pair towards next resistance level at 1.1420 levels.
To the downside immediate support can be seen at 1.1370 levels, a break below this level will open the door towards next level at 1.1347.
