EURUSD: Bull Recovery Remains Intact But With Caution

Mohammed Isah FXTechstrategy

EURUSD bull recovery remains intact as more strengthen is envisaged. But with price hesitation seen on Friday that strength may subside a bit. On the upside, resistance comes in at 1.1600 level. A break through there opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. On the downside, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. All in all, EURUSD still faces further upside pressure on corrective recovery but with caution.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1679
2. R2 1.1645
3. R1 1.1602
PP 1.1568
1. S1 1.1526
2. S2 1.1492
3. S3 1.1449

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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