Current trend
Last week, the EUR/USD pair grew amid weak US labour market data. In particular, the Nonfarm payrolls came in at 38 thousands. However, there still a good chance of the Federal Reserve tightening its monetary policy this summer that may strengthen the US Dollar.
The Euro remains under pressure from a fall in German bond yields. Moreover, as long as there is still uncertainty around Brexit vote, the American currency may get support.
Support and resistance
RSI is below 70 suggesting the possibility of a price fall in the short term.
The nearest support level is at 1.1322.
The nearest resistance level is at 1.1379.
Trading tips
Short positions can be opened from the level of 1.1360 with the target at 1.1322 and stop-loss at 1.1380.
Last week, the EUR/USD pair grew amid weak US labour market data. In particular, the Nonfarm payrolls came in at 38 thousands. However, there still a good chance of the Federal Reserve tightening its monetary policy this summer that may strengthen the US Dollar.
The Euro remains under pressure from a fall in German bond yields. Moreover, as long as there is still uncertainty around Brexit vote, the American currency may get support.
Support and resistance
RSI is below 70 suggesting the possibility of a price fall in the short term.
The nearest support level is at 1.1322.
The nearest resistance level is at 1.1379.
Trading tips
Short positions can be opened from the level of 1.1360 with the target at 1.1322 and stop-loss at 1.1380.