EURUSD: With EUR following through higher on the back of its Wednesday gains, further strength is likely. Resistance resides at the 1.4000 level where we may see the bears come in and push the pair lower. However, if this fails to occur, further strength could build up towards the 1.4050 level, its psycho level. Further out, resistance lies at the 1.4100 level. Its daily RSI is bullish and pointing higher supporting this view. On pullbacks, support comes in at the 1.3914 level where a reversal of roles as support is likely. Further down, support stands at the 1.3824 level where a break will expose the 1.3772 level. Additionally, support lies at the 1.3685 level followed by the 1.3600 level and then the 1.3561 level. All in all, EUR remains biased to the upside long term.
Article by www.fxtechstrategy.com
