EURUSD: Faces Corrective Pullback Threats…
As long as 1.1360 resistance holds on a daily closing basis, the EURUSD remains in a corrective pullback mode, and further down couldn’t be ruled out. Support comes 1.1285 level. A cut through support will turn outlook bearish to 1.1215 level, further down, support comes at 1.1155 level.
On the upside, immediate resistance comes at 1.1360 level. A sustained breakout – daily closing – above that level will reverse risk to 1.1422/1.1465 level. Above 1.1465 aims 1.1537 level.
Conclusion: The EURUSD sees pullback threats below 1.1360 levels.
Support: 1.1285, 1.1215, 1.1155, 1.1080
Resistance: 1.1360, 1.1422, 1.1465, 1.1537
The U.S will report on Consumer Price Inflation for Nov at 13:30 GMT. The forecast is to fall 0.0%, from 0.3% a month earlier. Core CPI is expected to remain unchanged as the previous month at 0.2%. Above forecast is negative for EURUSD. Anyway; the indicator is likely to bring a selling opportunity.