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EURUSD: Builds Up On Recovery, Eyes 1.1213 Level

EURUSD: With EUR turning higher to reverse part of its four-day losses on Wednesday, further push higher is likely. It was seen at the time of this analysis heading further higher with eyes on the 1.1213 level. Support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level with a turn below that level targeting the 1.0950 level. Conversely, resistance is seen at 1.1213 level with a cut through here opening the door for more downside towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, EUR remains biased to the upside nearer term.

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