TipTVFinance

EUR/USD European session outlook

FX:EURUSD   Euro / U.S. Dollar
Resistance – 1.1301 (daily 5-MA + 50-MA), 1.1342, 1.1376

Support – 1.1259 (daily 5-MA), 1.1236, 1.12

  • Dollar sell-off is pushing EUR/USD             higher in early Europe, although pair needs to take out back to back strong resistance levels in the range of 1.1296-1.1301 (23.6% of May 2014 high-Mar 2015 low + daily 5-MA & 50-MA), which if breached on hourly closing basis would signal a more sustainable rally to 1.1342-1.1376 levels.
  • On the lower side, support at 1.1236 stands exposed if the spot fails to take out hurdle at 1.1301.
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