EURUSD: With EUR struggling to close marginally higher the past week, risk of a recovery higher is not over yet. This development leaves the 1.0673 zone providing support and leaving threats to the upside. Support comes in at the 1.0700 level but if violated, expect more weakness to occur with eyes on the 1.0673/50 levels. Further down, support lies at the 1.0600 level where a violation if it occurs will aim at the 1.0550 level. A break of here will turn risk to the 1.0500 level. Conversely, resistance is comes at 1.0807 level with a cut through here opening the door for more bull pressure towards the 1.0850 level. Further up, resistance lies at the 1.0900 level where a break will expose the 1.0950 level. All in all, EUR remains biased to the downside in the medium term but with caution.
25th April 2016
EURUSD: Above 1.0673 Zone Leaves Threats To The Upside
