EURUSD: Resumes Its Medium Term Uptrend

21 May 2017, 14:55

EURUSD: With the pair rallying to close higher the past week, more strength is expected in the new week. Resistance comes in at 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further bear pressure.

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