EURUSD Looks To Pull Back Further On Price Sell-Off

FXAssure • by Mohammed Isah

Forex Trades • Aug 9, 2020 at 12:51 PM EDT

EURUSD saw price weakness after selling off on Friday. This development leaves it vulnerable to further declines. Resistance now comes in at the 1.1850 level.

EURUSD saw price weakness after selling off on Friday. This development leaves it vulnerable to further declines. Resistance now comes in at the 1.1850 level with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level.

Further up, resistance stands at the 1.2000 level. On the down, support comes in at 1.1750 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1750 level. A cut through that level will clear the way for a move towards the 1.1700 level.

All in all, EURUSD looks for more downside pressure on corrective pullback.

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