Rebound the EUR/USD sustainable?
The EUR/USD bounced off 1.05 support level currently approaching 1.06 with next resistance at 1.07.
However, with the FOMC rates decision next week, increasing concern in the Russia/Ukraine conflict and the ECB (and possible rate decision) not due till later, it is likely that any upside move in the EUR/USD presents a better selling opportunity.
Look for price rejection of 1.06 or 1.07 for selling opportunities back towards 1.05 and possibly 1.04
The EUR/USD bounced off 1.05 support level currently approaching 1.06 with next resistance at 1.07.
However, with the FOMC rates decision next week, increasing concern in the Russia/Ukraine conflict and the ECB (and possible rate decision) not due till later, it is likely that any upside move in the EUR/USD presents a better selling opportunity.
Look for price rejection of 1.06 or 1.07 for selling opportunities back towards 1.05 and possibly 1.04
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