Weekly Technical Strategist On EURUSD

EURUSD: Closes Flat With Eyes On The Upside

EURUSD: With EUR closing flat the past week, it faces the risk of a move higher in the new week. Resistance is seen at the 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. Conversely, support lies at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will aim at the 1.0850 level with a turn below that level targeting the 1.0800 level. All in all, EUR faces downside threats having sold off the previous week.

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