EURUSD Continues To Hold Onto Short Term Downtrend

EURUSD continues to face downside pressure as we enter a new week. Resistance comes in at the 1.1050 where a break will turn risk to the 1.1100 level.

A breach below here will target the 1.1150 level. Further up, resistance stands at the 1.1200.

Conversely, on the downside, support comes in at the 1.1000 level with a violation of there opening the door for a further gain towards the 1.0950 level. Further down, resistance lies at the 1.0850 level. A cut through that level will clear the way for a move towards the 1.0800 level.

All in all, EURUSD looks for more bear threats to occur.

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