EURUSD: Risk Remains Lower On Bear Pressure

30 April 2017, 12:42
FXTechstrategy
0
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EURUSD: With the pair still retaining its downside pressure, more weakness is likely. Resistance comes in at 1.0950 level with a cut through here opening the door for more upside towards the 1.0000 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 suggesting further strength. Conversely, support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level. All in all, EURUSD faces further bear threats but with caution.


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