EUR/USD: Although EUR/USD closed flat the past week, it looks to strengthen further in the new week. This is consistent with its short term upside bias. Support lies at the 1.1300 level. Further down, support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level.

Conversely, on the upside, resistance comes in at 1.1450 level with a cut through here opening the door for more upside towards the 1.1500 level. Further up, resistance lies at the 1.1550 level where a break will expose the 1.1600 level. Its weekly RSI is bullish and pointing higher supporting this view. All in all, EUR/USD remains biased to the upside short term though with caution. 

 

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