FxWirePro:EUR/USD drops below 1.1300 levels as dollar advances on stronger stocks, upbeat china data
EUR /USD pair declined sharply on Wednesday as the pair attracted strong selling interest as gains in global stocks and upbeat Chinese data drew investors into riskier assets. However, the pair made limited gains after d…
EUR /USD pair declined sharply on Wednesday as the pair attracted strong selling interest as gains in global stocks and upbeat Chinese data drew investors into riskier assets.
However, the pair made limited gains after downbeat US retail sales having found short buying interest around 1.1300 levels before slipping back towards 1.1270 in the late US session.
Currently the pair is trading around 1.1283 levels, it is set to decline further towards 1.1250 later towards 1.1200 levels in the short term.
To the upside, the strong resistance can be seen at 1.1337, a break above will take the pair towards next resistance level at 1.1398.
To the downside immediate support can be seen at 1.1265 levels, a break below will open gates towards 1.1220 levels.
