- The Euro declined against dollar in US session after Core CPI figures from the US market printed positive figures. However, the pair is consolidating above 1.1352 support level and a rebound towards higher levels is expected sooner or later as the dollar will once again come under selling pressure. Therefore it’s good to buy this pair above at 1.1350 levels.
- To the upside, the strong resistance can be seen at 1.1400, a break above this level would take the pair towards next resistance level at 1.1450 (Oct 14th high) levels.
- To the downside immediate support can be seen at 1.1352, a break below this level will open the door towards next level at 1.1333.Recommendation: Go long above 1.1350, targets 1.1390, 1.1430, SL 1.1290Resistance LevelsR1: 1.1400 (Psychological levels)R2: 1.1416 (38.2 % Retracement level)R3: 1.1450 (Oct 14th high)Support LevelsS1: 1.1352 (50 % Retracement level)S2: 1.1333 (Oct 9th lows)S3: 1.1290 (61.8% Retracement level)
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