EURUSD Backs Off Higher Prices, Vulnerable

EURUSD faces risk of further weakness with more decline expected in the new week.

On the down, support comes in at 1.2050 level with a violation opening the door for a run at the 1.2000 level. Further down, support is seen at the 1.1950 level.

A cut through that level will clear the way for a move towards the 1.1900 level. Its daily RSI is bearish and pointing lower suggesting further weakness.  

On the upside, resistance comes in at the 1.2150 with a break of that area turning risk towards the 1.2200 level. A move above here will target the 1.2250 level. Further up, resistance stands at the 1.2300.

All in all, EURUSD looks for more downside pressure on price rejection.


EURUSD Backs Off Higher Prices, Vulnerable

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