EUR/USD Risk Turns Lower Towards 1.1051/26 Support Zone


EURUSD risk turns lower towards 1.1051/25 support zone as it retains downside pressure. Support comes in at the 1.1050 where a violation will turn risk to the 1.1000 level. A break below here will target the 1.0950 level. Further down, support sits at the 1.0900. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a violation of there opening the door for further gain towards the 1.1200 level. Further up, resistance lies at the 1.1250 level. A cut through that level will clear the way for a move towards the 1.1300 level. All in all, EURUSD expects more weakness in the days ahead.

 

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