EURUSD: Sees More Upside Extension, Eyes Key Resistance

Trading Discussion News and Economy
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EURUSD: With EUR closing higher to hold above its broken resistance at the 1.2822 level, further price extension risk is likely in the days ahead. This will leave the pair targeting its psycho level at the 1.3000 level. Further out, resistance resides at the 1.3171 level. Its daily RSI is bullish and pointing higher suggesting further upside. On the downside, support comes in at the 1.2822 level. Further down, support lies at the 1.2660/25 levels. A breach of here will call for a run at the 1.2560 level. All in all, EUR continues to retain its corrective recovery tone.

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Makes sense as Tuesday they will decide on Greece, but there are already positives signals that Greece will be able to pay-off the next trench. So up is likely. But I wasn’t aware that there is a psycho level. I don’t think 1.3 is very important. It has been broken multiple times in the last months.