EURUSD: Recovering With Caution
EURUSD: Outlook for EUR remains to the upside after closing higher the past week. However, a mild pullback may occur in the new week as price hesitation signs are now seen on lower level charts. Resistance is seen at 1.0850 level with a cut through here opening the door for more downside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. Conversely, support lies at the 1.0700 level where a violation will aim at the 1.0650 level. A break of here will aim at the 1.0600 level with a turn below that level targeting the 1.0550 level. All in all, EUR remains biased to the upside on recovery.
