EURUSD Eyes Further Downside Pressure

EURUSD faces risk of a further move lower following its sell off this past week. Resistance comes in at the 1.1150 where a break will turn risk to the 1.1200 level. A breach above here will target the 1.1250 level. Further up, resistance stands at the 1.1200. Conversely, on the downside, support comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1000 level. Further down, resistance lies at the 1.0950 level. A cut through that level will clear the way for a move towards the 1.1900 level. All in all, EURUSD looks for more downside pressure.

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