EUR/USD Eyeing Further Weakness On Bear Pressure

EUR/USD faces risk of further downside pressure after extending its weakness on Monday. On the down, support comes in at 1.2100 level with a violation opening the door for a run at the 1.2050 level. Further down, support is seen at the 1.2000 level. A cut through that level will clear the way for a move towards the 1.1950 level.

On the upside, resistance comes in at the 1.2200 with a break of that area turning risk towards the 1.2250 level. A move above here will target the 1.2300 level. Further up, resistance stands at the 1.2350. All in all, EUR/USD looks for more downside pressure in the days ahead.

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