EUR/USD pair made gains yesterday after buyers stepped in, following dovish comments by Federal Reserve. The pair surged towards 1.1310 levels in the earlier European session, but more buying interest in the US session has pushed the pair towards 1.1356 levels.
- Further decline is expected to be limited as the support level at 1.1280 levels is set to hold the bears from falling further below, and bring a rebound towards higher levels.
- Immediate support can be seen at 1.1367, a break below this level will expose the pair downwards towards 1.1400 levels.
- Major resistance can be seen at 1.1323, a break above this level will open the door towards 1.1280 levels.
Resistance Levels
R1: 1.1367 (38.2% Retracement Level)
R2: 1.1400 (Psychological levels)
R3: 1.1423 (23.6% Retracement Level)
Support Levels
S1: 1.1323 (50 % Retracement Level)
S2: 1.1280 (61.8 % Retracement Level)
S3: 1.1227 (March 21st lows)
