EURUSD: Broader Bias Remains Higher On Bullishness

4 Jun 2017

EURUSD: With the pair closing higher the past week, risk of more strength is likely. 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. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, 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.

Strategy: Buy at 1.1279, Stop loss at 1.1210, Price target at 1.1379 & 1.1420