EUR/USD's Firm Resistance Level

Technical Reports

Pair’s trading is still neutral. The consolidation from 1.1509 is extending. Firmer recoil is projected. Firm resistance from the resistance area of 1.1822/1995 should restrict upside and cause a drop restoration. Following pivot points include: (S1) 1.1648; (P) 1.1686 (R1) 1.1732.

Breach of 1.1509 will expand the fall from 1.2555 and head towards 50% retracement of 1.0339 to 1.2555 at 1.1447. Breach will align 61.8% retracement at 1.1186.

There has been a rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516. A medium term top has been created at 1.2555. The fall is expected to extend for 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and lower. While 1.1995 resistance is present, the drop from 1.2555 will be considered to be progressing.