EURUSD: Tests key Resistance 1.1200 With Caution
The outlook in EURUSD remains neutral at the moment. Support comes at 1.1155 levels while resistance comes at 1.1200 levels. On the upside, a sustained breakout – daily closing – back above 1.1200 will restore the upside momentum and aim the 1.1245 levels. A halt is likely, but a break would open 1.1315 next, further upside, resistance comes at 1.1395 levels.
On the downside, a failure to hold above 1.1200 levels on a daily closing basis could mean a return to 1.1155 levels. Below 1.1155 aims 1.1124/1.1093 levels. The next support comes at 1.1038/1.1000 levels.
In conclusion: The EURUSD sees light bullish move above 1.1155 levels with caution…
Bottom Line On EURUSD Still Unclear
Stability above 1.1155 – daily closing basis – may expose the 1.1200 levels. If seen it will aim the 1.1245 levels. Selling the pair is only recommended below 1.1155 levels. Also buying the pair below 1.1200 ( daily closing basis) could be risky a bit. The pair is light bullish above 1.1160, and bullish above 1.1200, the corrective pullback will resume below 1.1155 levels.
Support: 1.1155, 1.1124, 1.1093, 1.1038, 1.1000
Resistance: 1.1200, 1.1245, 1.1315, 1.1395, 1.1450