EURUSD: Rejects Lower Prices, Eyes More Recovery.

5 March 2017, 15:24

EURUSD: The pair saw a price rejection the past week, leaving risk higher in the new week. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. All in all, EURUSD faces further downside pressure medium term but faces recovery higher.

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