EURUSD: Risk Remains Higher On More Strength

5 February 2017, 14:09
FXTechstrategy
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EURUSD: With the pair closing higher the past week, further bullishness is envisaged in the new week. On the upside, resistance comes in at 1.0850 level with a cut through here opening the door for more upside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. Conversely, 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. Its weekly RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further upside pressure short term

  

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