EURUSD: The pair closed higher on Monday and followed through higher on Tuesday. This has opened the door for more strength to occur. On the upside, resistance comes in at 1.2400 level with a cut through here opening the door for more upside towards the 1.2450 level. Further up, resistance lies at the 1.2500 level where a break will expose the 1.2550 level. Conversely, support lies at the 1.2300 level where a violation will aim at the 1.2250 level. A break of here will aim at the 1.2200 level. Below here will open the door for more weakness towards the 1.2150. All in all, EURUSD faces further recovery threats.
This is an excerpt fromFXT Technical Strategist Plus(PRO Plan Package), a 7-currency model analysis and trade alerts utilized by all levels of traders with trade alerts.See Pricing and Get Strated