EURUSD: Maintains Its Bullish Offensive Short Term

17 August 2016, 15:30
EURUSD: Having taken out its key resistance at 1.1233 level on Tuesday, more strength is likely in the days ahead. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD remains biased to the upside on bull pressure.


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