EUR/USD Faces Further Downside Pressure

FXAssure • by Mohammed Isah

Forex Trades • Jul 15, 2018 at 2:25 PM EDT

The EUR/USD pair looks to extend its weakness after selling off on Wednesday. On the upside, resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level.

Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450.

All in all, EUR/USD faces further downside pressure but with caution of a recovery.

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