EUR/USD: Faces Further Bullish Offensive Short Term
FXTechstrategy Team | Feb 10, 2016 09:05PM ET
EUR/USD: Having taken back all of its intra day losses to close flat on Wednesday and following through higher during Thursday trading session , EUR/USD faces further bullish offensive short term. Support lies at the 1.1250 level. Further down, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, on the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EUR/USD faces further bullish offensive short term.
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