EURUSD: Although EUR is bullish, it is now seen hesitating ahead of its key resistance located at the 1.3820 level. Unless it decisive breaks and holds above that level, the risk is for it to trigger a pullback lower. However, above here will turn focus to the 1.3900 level. Further out, resistance comes in at the 1.3966 level where a breach will aim at the 1.4000 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to this analysis will be a return to the 1.3737 level followed by the 1.3676 level. Further down, support stands at the 1.3600 level where a violation will target the 1.3550 level. All in all, EUR remains biased to the upside in the long term though hesitating.
Article by www.fxtechstrategy.com
