EURUSD: 1.1130/1.1172 should halt fall from 1.1466 and bring rebound !

As show on the 4 hour chart posted below, the EURUSD pair is under heavy pressure , at the moment of writing is around 1.1200 levels, there’s a room for more decline towards the 1.1172 levels. At this point I’d expect strong support from the 1.1172/1.1130 levels to contain fall from the 1.1466 levels and bring rebound, If seen , resistance comes at the 1.1331 levels where fall resumption is likely, above 1.1331 will extend recovery towards the 1.1400 levels.

On the downside,If 1.1130/1.1172 fails to hold , expect further weakness towards the 1.1065/1.0960 levels…

 

EURUSD- 1_1130-1_1172 should halt fall from 1_1466 and bring rebound !

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Comment by Dao on May 19, 2015 at 7:45am

Yes, let's see if the support zone will reject the price.

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