EURUSD: Rallies, Resumes Short Term Uptrend

17 January 2017, 13:19
FXTechstrategy
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EURUSD: With the pair rallying to stop its weakness on Tuesday, more strength is envisaged. On the down, support lies at the 1.0650 level where a violation will aim at the 1.0600 level. A break of here will aim at the 1.0550 level. Conversely, on the upside, resistance comes in at 1.0750 level with a cut through here opening the door for more upside towards the 1.0800 level. Further up, resistance lies at the 1.0850 level where a break will expose the 1.0900 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further upside pressure in the short term

  

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