EUR/USD eyes further upside pressure – technical analysis | Forex …
EUR/USD eyes further upside pressure – technical analysis
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Created: Feb 23, 2014 16:35 GMT
EURUSD: With EUR maintaining its bullish bias, further gain is envisaged in the new week. Resistance resides at the 1.3800 level where a violation will turn attention to the 1.3850 level and then the 1.3900 level, its psycho level.
Its weekly RSI is bullish and pointing higher supporting this view. Conversely, to annul its past week gains it will have to return above the 1.3685 level.
Further down, support is seen at the 1.3600 level and then the 1.3561 level where a break will turn focus to the 1.3476 level. A cut through will pave the way for a run at the 1.3400 level, representing its psycho level.
All in all, EUR remains biased to the upside on further recovery.
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Further reading: EUR/USD weekly forex forecast.
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EUR/USD eyes further upside pressure – technical analysis | Forex …
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