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EURUSD: Pulls Back, Targets 1.0651 Zone

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EURUSD: Pulls Back, Targets 1.0651 Zone

Postby FXTechstrategy » Wed Jan 25, 2017 3:55 pm

EURUSD: With the pair pulling back on Tuesday and remaining vulnerable to the downside, risk of a follow through lower is likely. On the down, 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. Conversely, 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. All in all, EURUSD faces further downside pressure.

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