EURUSD Remains Vulnerable Below Falling Trendline

17 January 2016, 15:01
FXTechstrategy Team
EURUSD: With Having trade flat (weekly chart) the past week on price reversal, EURUSD remains vulnerable below falling trendline. However, we may see price hesitation initially. On the down,  support is located at the 1.0850 level and if violated, expect more weakness to happen towards the 1.0795 level. Further down,  support lies at the 1.0750 level where a violation will aim at the 1.0700 level. A break of here will aim at the 1.0650 level. On the upside, resistance comes at 1.0950 level with a cut through here opening the door for more upside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. Its weekly RSI is bullish and pointing higher supporting this view. All in all, EURUSD remains vulnerable below falling trendline.