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FxWirePro: EUR/USD reverses recent rally, bias back to downside

  • 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)
  • Market Data
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