EURUSD Maintains Third Day Of Losses

Forex Trades • Mar 12, 2020 at 11:47 AM EDT

EURUSD faces the risk of a further move lower as it embarks on a third of bearishness. This is coming on the back of its price rejection on Tuesday.

Resistance stands at the 1.1250 where a break will turn risk towards the 1.1300 level. A breach above here will target the 1.1350 level.

Further up, resistance stands at the 1.1400. Conversely, on the downside, support comes in at 1.1200 level with a violation of there opening the door for further gain towards the 1.1150 level.

Further down, resistance lies at the 1.1100 level. A cut through that level will clear the way for a move towards the 1.10500 level. All in all, EURUSD looks for more bearish pressure in the days ahead.

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