EURUSD: Reverses Its Two-Week Losses
EURUSD: With EURUSD taking back its two-week losses
to close on a rally the past week, more strength is envisaged in the new
week. Support lies at the 1.1300 level.
Further down, support comes in
at the 1.1250 level where a violation will aim at the 1.1200 level. A
break of here will target the 1.1150 level. Conversely, on the upside,
resistance comes in at 1.1400 level with a cut through here opening the
door for more upside towards the 1.1450 level.
Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD remains biased to the upside on more strength.
