EURUSD: Recovery Tone Intact, Targets The 1.1372 Level
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EURUSD: Having EUR halted its two-day corrective weakness to close higher on a rejection candle on Wednesday, further strength cannot be ruled out. On the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside pressure towards the 1.1409 level. Further up, resistance is seen at the 1.1450 level where a break will expose the 1.1500 level. On the other hand, Initial support stands at the 1.1250 level where a break will create scope for more weakness towards the 1.1200 level. A break of here will aim at the 1.1150 level with a turn below that level targeting the 1.1100 level. All in all, the pair looks to follow through higher on the back of its Wednesday recovery strength.