EURUSD (1.2227): The EURUSD rose to a 4-year high on Friday, closing at 1.2196. The gains came as price broke past the technical resistance level of 1.2090 – 1.2070. The surge was led by a strong bullish momentum in price. However, at the current levels, EURUSD remains slightly elevated and could pose a risk of a correction. The previously established resistance level at 1.2090 – 1.2070 could remain under pressure as price could revisit this level to establish support. Renewed buying interest could be seen, but a break down below this level could send the euro falling to the 1.1900 levels in the short term.
