EUR/USD Weekly Outlook

EUR/USD -the pair closing lrowe the past week on correction, further weakness may occur in the new week. However, we think a move back up could happen. On the upside, resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level Fibo 38.2. Conversely, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level.Faces further downside pressure but with caution.New target 1.05? Eyes Yellen and market movers.

eu 13-02

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