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EURUSD: Retains Upside Bias

EURUSD: EUR closed higher for a second week in a row leaving risk of more upside on the cards. Resistance is seen at the 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 1.1200 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1150 level with a turn below that level targeting the 1.1100 level. All in all, EUR faces downside threats in the medium term.

EURUSDproWeekly

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