EURUSD: Bullish, Faces Further Upside Pressure

12 March 2017, 13:29
FXTechstrategy
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EURUSD: The pair faces further recovery pressure following its past week higher close. On the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bullish and pointing higher suggesting further strength. 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 upside pressure.

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