EURUSD: With EUR maintaining its corrective bullish offensive, more strength towards its resistance located at 1.1133 level is likely in the days ahead. Support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level with a turn below that level targeting the 1.0850 level.
Conversely, resistance is seen at 1.1100 level with a cut through here opening the door for more downside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further strength, All in all, EUR remains biased to the upside as it faces a corrective recovery higher nearer term.
In our latest podcast, we ask: Will they or won’t they? We talk about the Fed and also falling oil and silver.
Follow us on Stitcher.