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EURUSD: Vulnerable But With Caution Of Recovery

EURUSD: Having EURUSD closed lower the past week, more downside pressure is envisaged. However, with its broader uptrend from the 1.0821 level remaining intact, a move higher could occur in the new week. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level.. All in all, EURUSD remains biased to the upside short term despite its past week losses.

EURUSD: Vulnerable But With Caution Of Recovery EURUSDWeekly

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