EURUSD: EUR may have closed higher the past week but with caution as pullback threats could occur. Resistance is seen at the 1.1450 level with a cut through here opening the door for more upside towards the 1.1500 level.
Further up, resistance lies at the 1.1550 level where a break will expose the 1.1600 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1200 level with a turn below that level targeting the 1.1150 level. All in all, EUR faces downside threats in the medium term.
In our latest podcast we digest the dollar dove dive, update on Greece and preview next week’s events.
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