EUR/USD Looks To Recover Further; To Go Higher In The New Week

EUR/USD looks to recover further higher in the new week despite its lower close at the end of the week (see weekly chart). Support comes in at 1.1200 where a break will aim at the 1.1150 level. A break below here will target the 1.1100 level.

Further down, support lies at the 1.1050. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level.

All in all, EUR/USD continues to threaten further downside pressure but with caution.

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