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Old 30-06-2016, 02:03
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Default Daily Technical Strategy On Currencies & Commodities

EURUSD: Targets The 1.1130 Resistance Zone But With Caution

EURUSD: Having EURUSD closed higher on Wednesday, it could face further upside. This development if seen will aim at its key overhead resistance at 1.1130 zone. On the downside, support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1130 level with a cut through here opening the door for more upside 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, EURUSD remains biased to the upside on correction.
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