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EUR/USD - Fight At 1.1330 Resistance Area

Published 03/17/2016, 01:38 PM
Updated 03/09/2019, 08:30 AM

EUR/USD - fight at 1.1330 resistance area

EUR/USD moved up sharply after the FOMC meeting where Janet Yellen's statement was very dovish. For the last 24 hours, price moved up by 300 pips. So far the high from February wasn't tested, however it is a matter of time before level 1.1380 will be re-tested.

If price continues with upward movement, the biggest problem for demand will be the 1.1490 level. That level was tested only once in the last 14 months, and there price should rebound and start correction. Alternatively, if falls occur earlier, nearest supports will be located at 1.1200 and 1.1070.

Time-frame H4
EUR/USD H4 Chart

Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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