EUR/USD – strong resistance at 1.1236-1.1240

FX:EURUSD   Euro / U.S. Dollar
Resistance – 1.1236-1.1240 – 1.274, 1.13

Support – 1.1196, 1.1148, 1.11

  • Oversold RSI on the hourly timeframe could lead to a sideways to mildly positive action, although pair is unlikely to take out/sustain above key resistance level of 1.1236 (38.2% of 1.0463-1.1714)-1.1240.
  • Watch out for a rejection at 1.1236-1.1240 followed by a break below 1.1196 (38.2% of 1.0517-1.1616) as that could trigger fresh selling towards 1.1150 area.
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