EURUSD: Sets Up To Resume Upside Pressure

16 July 2017, 18:52

EURUSD: The pair continues to hold on to its medium term uptrend with more strength envisaged in the new week. Resistance comes in at 1.1500 level with a cut through here opening the door for more upside towards the 1.1550 level. Further up, resistance lies at the 1.1600 level where a break will expose the 1.1650 level. Its daily RSI is bullish and pointing higher suggesting further strength.  Conversely, support lies at the 1.1400 level where a violation will aim at the 1.1350 level. A break of here will aim at the 1.1300 level. All in all, EURUSD faces further upside pressure.

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