EURUSD: Halts Upside, Still Faces Pullback Threats…
As long as 1.1800 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down couldn’t be ruled out. Support comes at the 1.1735 levels ahead of 1.1685 levels. A halt is likely, It may turn higher from here. However; below 1.1685 sees further weakness to 1.1625 levels, further down, support comes in the 1.1550 level ahead of 1.1500 level.
On the upside, immediate resistance comes at the 1.1800 levels, above that level sees limited gains below 1.1875/1.1938 level. Above 1.1938 will extend the bullish move to 1.1995 levels, further upside, resistance comes at 1.2060 levels.
In conclusion: The EURUSD sees downside threats in the short-term forecast below 1.1800 levels.
Support: 1.1735, 1.1685, 1.1625, 1.1550, 1.1500
Resistance: 1.1800, 1.1875, 1.1938, 1.1995, 1.2060
Light bullish: Above 1.1800
Bullish: Above 1.1938
Light Bearish: Below 1.1800
Bearish: Below 1.1685
Key data/events which may affect EURUSD today:
- U.S Initial Jobless Claims at 12:30 GMT.