EUR/USD: Risk Continues To Point Higher
FXTechstrategy Team | Aug 16, 2015 08:50AM ET
EUR/USD: With EUR seeing a close higher the past week, it now faces the risk of following through higher in the new week. Note that we may see a slight pullback in the new week. Support lies at the 1.1050 level, where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level, with a turn below that level targeting the 1.0900 level. Resistance is seen at 1.1150 level, with a cut through here opening the door for more downside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level, where a break will expose the 1.1300 level. All in all, EUR remains biased to the upside on correction.
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