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EURUSD: Rallies, Sees Further Bullishness

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EURUSD: Rallies, Sees Further Bullishness

Postby FXTechstrategy » Thu Jan 12, 2017 1:36 pm

EURUSD: With the pair taking back its intra day losses to close higher on Wednesday and following through on a rally during Thursday trading session, more strength is envisaged. On the down, support lies at the 1.0650 level where a violation will aim at the 1.0600 level. A break of here will aim at the 1.0550 level. Conversely, on the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. All in all, EURUSD faces further upside pressure on price rally.

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