EURUSD - Limited upside

FX:EURUSD   Euro / U.S. Dollar

EURUSD - Intraday - We look to Sell at 1.1137 (stop at 1.1167)

The 161.8% Fibonacci extension is located at 1.1058 from 1.1412 to 1.1193. Continued upward momentum from 1.1027 resulted in the pair posting net daily gains yesterday. Buying posted in Asia. There is no clear indication that the downward move is coming to an end. Bespoke resistance is located at 1.1137. Further downside is expected and we prefer to set shorts in early trade.

Our profit targets will be 1.1070 and 1.1030

Resistance: 1.1137 / 1.1153 / 1.1173
Support: 1.1070 / 1.1030 / 1.0875
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