EURUSD: With EUR closing higher to reverse most of its past week gains, further strength is envisaged in the new week. Resistance is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1000 level.
Further up, resistance lies at the 1.1100 level where a break will expose the 1.1150 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.0900 level where a violation will aim at the 1.0850 level.
A break of here will aim at the 1.0800 level with a turn below that level targeting the 1.0750 level. All in all, EUR remains biased to the upside on correction though seen hesitating on Tuesday.
In this week’s podcast, we feature an Interview with FXStreet President Francesc Riverola on the industry, volatility and more
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