EUR/USD: With EUR/USD closing lower the past week, further decline is expected in the new week. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level.
A break of here will target the 1.1050 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level.
Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. All in all, EUR/USD remains biased to the downside on corrective pullback.
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