FxWirePro: EURUSD resumes downside after failing to break above 1.1416 levels
EUR/USD declined on Thursday as sellers stepped in as appetite for riskier assets improved with the rise in oil prices. Euro was also weighted down by worries over euro zone banks, and a sluggish global economy more gene…
EUR/USD declined on Thursday as sellers stepped in as appetite for riskier assets improved with the rise in oil prices.
Euro was also weighted down by worries over euro zone banks, and a sluggish global economy more generally, have been fuelled by signs that money managers are considering hoarding cash in bank vaults, given the lack of return on capital.
The currency pair is trading at 1.1315 levels, it is expected to reach 1.1270 levels and 1.1240 levels in the short term.
To the upside, the strong resistance can be seen at 1.1375, a break above this level would take the pair towards next resistance level at 1.1416.
To the downside immediate support can be seen at 1.1292 levels, a break below this level will open the door towards next level at 1.1255.
