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EURUSD Retains Recovery Threats With Eyes On 1.0759 Zone

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EURUSD Retains Recovery Threats With Eyes On 1.0759 Zone

Postby FXTechstrategy » Sun Dec 04, 2016 1:35 pm

EURUSD: The pair continues to seek for recovery though closing marginally higher on Friday. On the down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 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. Its weekly RSI is bullish and pointing higher suggesting further corrective recovery. All in all, EURUSD faces further downside pressure.

[/img]http://www.fxtechstrategy.com/wp-content/uploads/2016/12/EURUSDWeekly.png[/img]
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