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Major intraday support – 1.0560
Major resistance- 1.06855 (Nov 28th 2016 high)
EUR/USD edged lower yesterday after OPEC agreed to cut oil production to 32.5 million barrels per day from the previous 33.7 million barrels per day.
The pair declined till 1.05527 and recovered sharply from that level. It is currently trading slightly above 1.060 level at 1.06195.
The intraday trend is slightly bullish as long as 1.05600 holds.
On the higher side, the major resistance is around 1.0685 and any violation above will take the pair to next level till 1.0755/1.08150.
Resistance
R1-1.06855
R2-1.0755
R3- 1.0816
Support
S1-1.0560
S2-1.0518
S3- 1.0470
