EURUSD Rejects Higher Prices, Remains Vulnerable

6 August 2017, 15:21

EURUSD: The pair closed slightly higher on a rejection candle the past week leaving risk lower in the new week. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Its weekly RSI is pointing higher suggesting more strength.  Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. All in all, EURUSD faces further corrective downside pressure on price rejection.

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