FxWirePro: EUR/USD Strongly Bearish Despite Upside Attempts

FxWirePro: EUR/USD Strongly Bearish Despite Upside Attempts

6 May 2016, 21:27
Roberto Jacobs
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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 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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