EURUSD: Having taken back its Monday losses to close higher on Tuesday, EURUSD looks to resume short term uptrend triggered from the 1.0521 level. While the 1.0829/1.0796 zone continues to hold as support, the pair should build up on the mentioned short term uptrend. On the upside, resistance lies at the 1.0950 levels where a violation if seen will aim at the 1.1000 level. A break of here will aim at the 1.1050 level with a turn below that level targeting the 1.1100 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, support resides at the 1.0850. A cut through here will open the door for more upside towards the 1.0800 level. Further down, support lies at the 1.0762 level where a break will expose the 1.0700 level. All in all, EURUSD looks to resume short term uptrend on the back of its Tuesday bullish offensive.
25th April 2016
EURUSD Looks To Resume Short Term Uptrend
