EURUSD: Rallies Strongly on Price Reversal

Mohammed Isah FXTechstrategy

EURUSD: With the pair seen rallying on Tuesday following its Monday price reversal, more strength is envisaged in the days ahead. Resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level. All in all, EURUSD faces further upside pressure.

Interested in EUR/USD technicals? Check out the key levels

1. R3 1.1215
2. R2 1.1208
3. R1 1.1203
PP 1.1197
1. S1 1.1192
2. S2 1.1185
3. S3 1.1181

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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