EUR/USD: Biased To The Upside But With Caution

With the EUR/USD pair retaining its bull pressure it remains biased to the upside medium term. But we may see a pullback in the new week.

On the upside, resistance comes in at 1.2450 level with a cut through here opening the door for more upside towards the 1.2500 level. Further up, resistance lies at the 1.2550 level where a break will expose the 1.2600 level.

Conversely, support lies at the 1.2350 level where a violation will aim at the 1.2200 level. A break of here will aim at the 1.2150 level. Below here will open the door for more weakness towards the 1.2100. All in all, EUR/USD faces further bull threats but with caution of a pullback.