Fxwirepro: Eur/usd Approaching Key Support at 1.1075, Sell Deals are recommended Below 1.1075

• EUR/USD fell after hitting 1.1113 (50% Retracement level), and is trying to test 1.1075 (38.2% Retracement level).

• The pair is currently trading around 1.1096 level. It is expected to decline further towards 1.1000 and 1.0950 later.

• To the upside, the immediate  resistance sits at 1.1113, A break above this level would take it  to next resistance level at 1.1161(61.2% Retracement level).To the downside, the first support level lies at 1.1075 (38.2% Retracement level).

• The market focus shifts entirely on the Greek referendum scheduled on Sunday.

 Recommendation: Go short below 1.1130, targets 1.1070, 1.1020,

Resistance Levels

R1: 1.1113 (50% Retracement level)                        

R2: 1.1161(61.2% Retracement level)     

R3: 1.1198

Support Levels

S1: 1.1075 (38.2% Retracement level)

S2: 1.1029 (23.6% Retracement level)                    

S3: 1.0953

The material has been provided by InstaForex Company – www.instaforex.com