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22 May 2015
EUR/USD sees a strong barrier at 1.1180 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, shares the technical outlook and key levels for EUR/USD.
Key Quotes
“At the moment, the pair is trading at 1.1165; above 1.1156 (23.6% R of 1.1465-1.1060). An hourly close above the same could open doors for 1.1215 (38.2% R of 1.1465-1.1060) and 1.1227 (23.6% R of 1.0461-1.1465). The previous session’s high of 1.1080 is likely to act as strong resistance.”
“However, an hourly close above 1.1156 is likely to see the pair take out 1.1080.”
“On the downside, only a failure at 1.1080 and subsequent break below 1.1156 could trigger fresh selling pressure towards 1.1060.”
Key Quotes
“At the moment, the pair is trading at 1.1165; above 1.1156 (23.6% R of 1.1465-1.1060). An hourly close above the same could open doors for 1.1215 (38.2% R of 1.1465-1.1060) and 1.1227 (23.6% R of 1.0461-1.1465). The previous session’s high of 1.1080 is likely to act as strong resistance.”
“However, an hourly close above 1.1156 is likely to see the pair take out 1.1080.”
“On the downside, only a failure at 1.1080 and subsequent break below 1.1156 could trigger fresh selling pressure towards 1.1060.”