EURUSD: Vulnerable But With Caution

EURUSD: Having EURUSD continued to retain its corrective tone, immediate risk remains lower. But beware of  a move back higher in the direction of its short term uptrend. 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 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD remains biased to the upside on further strength.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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