FxWirePro:EUR/USD remains bullish as rally continues
The EUR/USD pair advanced towards 1.14007 levels in the US session, as the pair found buying interest on dips around 1.1311 in the earlier European session. The pair dipped towards 1.1311 after the release of negative Ge…
The EUR/USD pair advanced towards 1.14007 levels in the US session, as the pair found buying interest on dips around 1.1311 in the earlier European session. The pair dipped towards 1.1311 after the release of negative German Unemployment Change which came at 0k.
Further downside is expected to be limited as the pair faces strong support at 1.1280.The pair is expected to advance further towards 1.1450 levels in the short term.
Technically the pair has extended its bullish run above its 21 DMA, the RSI in the 4 hour chart is indicating upwards at 70, meanwhile the 55, 30 and 20 MA's are pointing strong bullish momentum towards higher side. Overall the technical indicators are depicting further uptrend for this pair.
To the upside, the strong resistance can be seen at 1.1410, a break above will take the pair towards next resistance level at 1.1472.
To the downside immediate support can be seen at 1.1313 levels, a break below will open gates towards 1.1280 levels.
