EURUSD Faces Downside Pressure In The Short Term
EURUSD: With EURUSD weakening during Tuesday trading
session, further decline is expected in the days ahead. Support lies at
the 1.1150 level.
Further down, support comes in at the 1.1100 level
where a violation will aim at the 1.1050 level. A break of here will
target the 1.1000 level. Its daily RSI is bearish and pointing lower
suggesting further weakness.
Conversely, on the upside, resistance comes
in at 1.1250 level with a cut through here opening the door for more
upside towards the 1.1300 level.
Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. All in all, EURUSD faces a move lower on further bear pressure.