EURUSD: Having continued to see price hesitation, EURUSD looks to maintain above key support as temporary bottom scenario is developing. If it can hold and trade above the 1.0519/00 zone this view should continue to hold. On the downside, support lies at the 1.0519/00 levels where a violation if seen will aim at the 1.0461 level. A break of here will aim at the 1.0400 level with a turn below that level targeting the 1.0350 level. Conversely, resistance resides at the 1.0650. A cut through here will open the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Its daily RSI has turned higher supporting this view. All in all, EURUSD looks to maintain above key support area as it searches for a temporary bottom.
25th April 2016
EURUSD Looks To Maintain Above Key Support Zone
