EUR/USD: ranging within key levels. The pair moved with good downward tendency up to the march this year, and the price was stopped by 1.0461 key support level. For now - the price is on bearish ranging between 1.1436 resistance and 1.0461 support. If the price breaks 1.1436 resistance so the local uptrend as the secondary market rally will be started ; if the price breaks 1.0461 so we may see good breakdown of the price movement up to 1.00/0.90 as the next psy levels; otherwise - ranging.
There are intermediate s/r levels on the way to key 1.1436/1.0461. Those levels are the following: 1.1215 resistance and 1.0807 support. Price should break one of those imtermediate levels for the bullish/bearish scenario to come true. Of course, many financial int'l institutions believe in 1.05/1.04 to come soon. But we should know those intermediate levels for understand about when the price will hit 1.04/1.05 low.
| Resistance | Support |
|---|---|
| 1.1215 | 1.0807 |
| 1.1436 | 1.0461 |
