EURUSD: Recovers Higher, Eyes Key Resistance Zone

Mohammed Isah FXTechstrategy

EURUSD: The pair now faces further corrective higher as it looks to extend strength. On the upside, resistance comes in at 1.1650 level with a break through there opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. Conversely, support lies at the 5level where a violation will aim at the 1.1400 level. A break of here will aim at the 1.1350 level. Below here will open the door for more weakness towards the 1.1300. All in all, EURUSD still faces further downside pressure though hesitating.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1741
2. R2 1.1696
3. R1 1.1661
PP 1.1615
1. S1 1.158
2. S2 1.1535
3. S3 1.15

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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