EURUSD: Vulnerable, Triggers Corrective Weakness

11 June 2015, 14:39
FXTechstrategy Team
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EURUSD: With EUR triggering a  corrective weakness following its rejection candle print on Wednesday, downside risk is building up. While the 1.1378 level caps, our bias remains lower. Resistance is seen at the 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. Conversely, support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level with a turn below that level targeting the 1.1100 level. All in all, EUR faces downside threats having triggered a correction

 

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