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.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.