EURUSD Outlook Still Points Higher On Recovery

FXAssure • by Mohammed Isah

Forex Trades • May 12, 2019 at 12:45 PM EDT

EURUSD outlook still points higher on recovery as we enter a new week. Support comes in at the 1.1200 level where a violation will turn risk to the 1.1150 level

EURUSD outlook still points higher on recovery as we enter a new week. Support comes in at the 1.1200 level where a violation will turn risk to the 1.1150 level.

A break below here will target the 1.1100 level. Further down, support sits at the 1.1050. Conversely, on the upside, resistance resides at 1.1250 level with a break through there opening the door for further upside towards the 1.1.1300 level.

Further up, resistance comes in at the 1.1350 level where a violation will expose the 1.1400 level. Its daily RSI is bullish and pointing higher, suggesting more strength.

All in all, the EURUSD outlook still points higher on recovery.

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