FxWirePro: EURUSD slips towards lower range, outlook remains bullish
EUR /USD pair has slipped downwards against US dollar by hitting low at 1.0977 after US CPI data printed in line with expectation. However, Further the decline is expected to be limited as the pair faces strong support a…
EUR /USD pair has slipped downwards against US dollar by hitting low at 1.0977 after US CPI data printed in line with expectation. However, Further the decline is expected to be limited as the pair faces strong support at 1.0930 and it is expected to advance further towards 1.1100 and 1.1080 levels in the short term it's good to buy this pair on dips.
To the upside, the strong resistance can be seen at 1.0000, a break above will take the pair towards next resistance level at 1.1044.
To the downside immediate support can be seen at 1.0930 levels, a break below will open gates towards 1.0882 levels.
Recommendation: Go long around 1.0940, targets 1.1040, 1.1100, SL 1.0882
