EURUSD Biased To The Upside On Recovery Medium Term

FXAssure • by Mohammed Isah

Forex Trades • Oct 4, 2020 at 11:09 AM EDT

EURUSD continues to face a risk of further upside pressure as we enter a new week. Resistance comes in at the 1.1750 level with a break of that area turning risk towards the 1.1800 level.

EURUSD continues to face a risk of further upside pressure as we enter a new week. Resistance comes in at the 1.1750 level with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level.

Further up, resistance stands at the 1.1800. On the down, support comes in at the 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level.

All in all, EURUSD looks for more upside pressure.

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