EURUSD Pressure Builds Up On 1.1710 Area

FXAssure • by Mohammed Isah

Forex Trades • Aug 24, 2020 at 1:13 AM EDT

EURUSD looks to weaken further as it eyes its key support located at 1.1710.

Resistance now comes in at the 1.1850 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.

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 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level.

All in all, EURUSD looks for more downside pressure.

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