EURUSD: Reverses Gains, Bearish

16 June 2016, 15:02
EURUSD: The pair reversed all of its Wednesday gains during Thursday trading session to open the door for more weakness in the days ahead. On the downside, support lies at the 1.1100 level. Further down, support comes in at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will target the 1.0950 level. Conversely, on the upside, resistance comes in at 1.1200 level with a cut through here opening the door for more upside pressure towards the 1.1250 level. Further up, resistance lies at the 1.1300 level where a break will expose the 1.1350 level. All in all, EURUSD faces further downside pressure on further weakness.


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