FxWirePro: EUR/USD reverses recent rally, bias back to downside
Tuesday, June 21, 2016 1:56 PM UTC
- EUR/USD pair declined on Tuesday, as the pair found strong selling interest after a new poll on Britain's referendum on European Union membership showed growing support for the "Leave" camp, pushing down the euro.
- Polling firm Survation showed the percentage of voters supporting Britain's exit from the EU had risen to 44 percent from 42 percent in its previous poll on Sunday.
- The currency pair is trading at 1.1245 levels, it is set to decline further towards 1.1180 later towards 1.1140 levels in the short term.
- To the upside, the strong resistance can be seen at 1.1330, a break above will take the pair towards next resistance level at 1.1397.
- To the downside immediate support can be seen 1.1184 levels, a break below will open gates towards 1.1125 levels.
Resistance Levels
R1: 1.1267 (38.2% Retracement level)
R2: 1.1330 (50% Retracement level)
R3: 1.1397 (61.8% Retracement level)
Support Levels
S1: 1.1184 (23.6% Retracement level)
S2: 1.1125 (June 15th lows)
S3: 1.1051 (March 16th low)