EURUSD, currently at 1.4415, has rallied strong overnight and this morning. Look for last week’s highs, at 1.4457 and 1.4439, to act as resistance. Already, EURUSD has stalled at 1.4455.
Outlooks:
In the short term, look for EURUSD to bounce down off of this resistance and continue to range between 1.4270 and 1.4455.
In the longer term, look to buy EURUSD off the bottom of the range (near 1.4270) and look to buy EURUSD upon a break of the resistance (near 1.4455).
