EURUSD Declines Further Lower On Bearishness

16 February 2020, 19:39
EURUSD faces risk of further move lower as it sold off the past week. Resistance comes in at the 1.0850 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0950 level. Further up, resistance stands at the 1.1000. Conversely, on the downside, support comes in at 1.0800 level with a violation of there opening the door for further gain towards the 1.0750 level. Further down, resistance lies at the 1.0700 level. A cut through that level will clear the way for a move towards the 1.0650 level. All in all, EURUSD looks for more weakness.

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