EURUSD: Bearish, Declines Further

10 May 2017, 14:23
FXTechstrategy
0
23

EURUSD: With the pair extending its downside pressure on Tuesday, further weakness is likely in the days ahead. Resistance comes in at 1.0900 level with a cut through here opening the door for more upside towards the 1.0950 level. Further up, resistance lies at the 1.1000 level where a break will expose the 1.1050 level. Conversely, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further bear threats.


Share it with friends: