EURUSD: The pair may have strengthened further on Tuesday but EURUSD faces its key resistance zone at 1.1059/86 with a possible turn back lower envisaged. This view remains valid as long as it continues to trade below the 1.1059/86 zone, its key resistance zone. Support resides at the 1.0850 zone. A cut through here will open the door for more upside towards the 1.0800 level. Further down, support lies at the 1.0750 level where a break will expose the 1.0700 level. On the upside, resistance lies at the 1.0950 levels where a violation if seen will aim at the 1.1000 level. A break of here will aim at the 1.1050 level with a turn below that level targeting the 1.1100 level. All in all, EURUSD faces its key resistance zone at 1.1059/86 on recovery but with caution.
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