EURUSD: Bullish, Faces Further Recovery Higher

Mohammed Isah FXTechstrategy

EURUSD: With the pair closing higher the past week, further recovery is envisaged. On the upside, resistance comes in at 1.0800 level with a cut through here opening the door for more upside towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. Its weekly RSI bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level. All in all, EURUSD faces further upside pressure but with caution.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.0762
2. R2 1.0754
3. R1 1.0749
PP 1.0741
1. S1 1.0736
2. S2 1.0728
3. S3 1.0723

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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