FxWirePro: EUR/USD drops below 1.1350 level as dollar advances on U.S. Fed rate hike views
Friday, August 19, 2016 3:09 PM UTC
- EUR /USD pair declined on Friday as the pair attracted selling interest after comments in favour of a hike from San Francisco Federal Reserve’s William Dudley offered support to the dollar.
- Currently, the pair is trading around 1.1319 levels, it is set to decline further towards 1.1280 later towards 1.1400 levels in the short term.
- To the upside, the strong resistance can be seen at 1.1368, a break above will take the pair towards next resistance level at 1.1398.
- To the downside immediate support can be seen at 1.1297 levels, a break below will open gates towards 1.1250 levels
Resistance Levels
R1: 1.1330 (50% Retracement level)
R2: 1.1368 (61.8% Retracement level)
R3: 1.1400 (Psychological levels)
Support Levels
S1: 1.1297 (38.2% Retracement level)
S2: 1.1250 (23.6% Retracement level)
S3: 1.1221 (June 17th lows)