EUR/USD Prints Rejection Candle, Eyes Recovery
FXTechstrategy Team | Jun 19, 2016 07:32AM ET
EUR/USD: With EUR/USD closing higher on a rejection candle the past week, a move higher in the new week could be building up. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EUR/USD remains biased to the upside in the short term on recovery.
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