EURUSD Backs Off Lower Prices With Eyes On 1.1200

EURUSD backs off lower prices with eyes on 1.1200 resistance as we enter a new week. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Conversely, on the upside, resistance comes in at 1.1200 level with a violation of there opening the door for further gain towards the 1.1250 level. Further up, resistance lies at the 1.1300 level. A cut through that level will clear the way for a move towards the 1.1350 level. Its weekly RSI is bullish and pointing higher suggesting more gain. All in all, EURUSD expects more recovery higher in the new week.

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