- EUR/USD pair rose towards 1.1446 levels on Wednesday, as dollar declined across the board as investors consolidated gains and booked profits on a day with no major economic data release from US market.
- Further downside in this pair should be limited as the support level at 1.1358 is set to limit downside bring a rebound towards higher levels.
- To the upside, the strong resistance can be seen at 1.1431, a break above will take the pair towards next resistance level at 1.1475.
- To the downside immediate support can be seen 1.1388 levels, a break below will open gates towards 1.1358 levels.
Resistance Levels
R1: 1.1431 (50% Retracement level)
R2: 1.1475 (61.8% Retracement level)
R3: 1.1528 (May 4th lows)
Support Levels
S1: 1.1388 (Psychological levels)
S2: 1.1358 (Daily lows)
S3: 1.1335 (April 25th low)
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