EURUSD: EUR looks to strengthen further following a strong bullish offensive during Thursday trading session. A follow-through higher on that gain is expected to create scope for more recovery with eyes on its key resistance at 1.1331 level. Resistance is seen at 1.1300 level with a cut through here opening the door for more upside pressure towards the 1.1300 level. Further up, resistance comes in at the 1.1350 level where a break will expose the 1.1400 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1050 level with a turn below that level targeting the 1.1000 level. All in all, risk remains biased to the upside in the short term
Comments
Log in or sign up to join the conversation.