EURUSD: Strengthens, Extends Bull Pressure

EURUSD: Strengthens, Extends Bull Pressure

EURUSD: The pair faces further recovery higher as it was seen following through higher on the back of Monday gain on Tuesday. 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. Its daily RSI is bullish and pointing higher suggesting further strength. 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 upside threats.

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