Fxwirepro: Eur/usd Fails to Sustain Gains, Dips Below 1.13 Handle

  • EUR/USD pair failed to sustain hefty gains and trimmed a part of it, dragging the pair back below 1.13 handle
  • EUR/USD is currently trading at 1.1266, with immediate resistance at at 1.1310 (Today’s High), above which gains could be extended to 1.1361 (Aug 24 Low) levels
  • On the downside, support is seen at 1.1232 (Today’s Low), breach below could take the pair to 1.1202 (Aug 27 Low) levels
  • Focus on German CPI figures ahead of the crucial US PCE index due later today, which may have major impact on the main currency pair

Resistance Levels:R1: 1.1310 (200 DMA)R2: 1.1364 (Daily High Aug 27)R3: 1.1366 (Tenkan)Support Levels: S1: 1.1203 (Daily Low Aug 27)S2: 1.1189 (Daily High Aug 13 & 14)S3: 1.1154 (61.8% of 1.0808 – 1.1715)

The material has been provided by InstaForex Company – www.instaforex.com

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