EURUSD: Retains Recovery Threats, Trades Above Key Support

8 December 2016, 03:52
FXTechstrategy
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EURUSD: The pair continues to retain its upside pressure on correction. On the down, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. Conversely, on the upside, resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Its daily RSI is bullish and pointing higher suggesting further strength.  All in all, EURUSD faces further upside pressure.

 

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