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FxWirePro:EUR/USD strongly bearish despite upside attempts

The EUR/USD pair declined towards lower levels in the US session, as the pair found selling interest around 1.1444 levels after the release of mixed US employment data. Any upside is expected to be limited as the resista…

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  • The EUR/USD pair declined towards lower levels in the US session, as the pair found selling interest around 1.1444 levels after the release of mixed US employment data.
     
  • Any upside is expected to be limited as the resistance level at 1.1462 is set to hold the bulls from advancing further and bring decline towards lower side.
     
  • To the upside, the strong resistance can be seen at 1.1462, a break above will take the pair towards next resistance level at 1.1500.
     
  • To the downside immediate support can be seen at 1.1370 levels, a break below will open gates towards 1.1310 levels.

    Resistance Levels

    R1: 1.1415 (50% Retracement level)

    R2: 1.1462 (61.8% Retracement level)

    R3: 1.1500 (Psychological levels)

    Support Levels

    S1: 1.1370 (38.2% Retracement level)

    S2: 1.1310 (23.6% Retracement level)

    S3: 1.1270 (April 27th lows)

 

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