EURUSD: Looks To Strengthen Further With Caution
EURUSD: With EURUSD
closing higher the past week, further recovery is envisaged. However, it
faces its key over head resistance located at 1.1464 level. Support
lies at the 1.1400 level. Further down, support comes in at the 1.1350
level where a violation will aim at the 1.1300 level. A break of here
will target the 1.1250 level. Conversely, on the upside, resistance
comes in at 1.1500 level with a cut through here opening the door for
more upside towards the 1.1550 level. Further up, resistance lies at the
1.1600 level where a break will expose the 1.1650 level. Its daily RSI
is bearish and pointing lower supporting this view. All in all, EURUSD remains biased to the upside but with caution.
