EUR/USD: Traction regained

The EUR/USD overnight pullback might still be categorized as a corrective slide amid overbought conditions on the daily charts as the pair showed some resilience below the 1.1300 mark and regain traction on Wednesday, Haresh Menghani from FXStreet briefs.

Key quotes

“The emergence of some dip-buying further reinforces the near-term positive outlook and supports prospects for the resumption of the recent bullish run.”

“The 1.1380-1.1400 region now seems to act as an immediate resistance, above which the pair is likely to make a fresh attempt towards the 1.1500 mark.”

“On the flip side, the 1.1325 level, closely followed by the 1.1300 round-figure mark might now protect the immediate downside.”