EURUSD Weakens Further, Risk Remains Lower

4 July 2017, 15:38

EURUSD: The pair closed lower on Monday opening the door for more weakness in the days ahead. Resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. Conversely, support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1200 level. Its daily RSI is bearish and pointing lower supporting this view. All in all, EURUSD faces further downside pressure.

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