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EURUSD: Risk Turns Lower, Extends Weakness
EURUSD: With EUR turning lower on Tuesday and following through lower on Wednesday, further bearishness is now envisaged. On the other hand, support lies at the 1.2600 level where a break will expose the 1.2550 level. Below here will pave the way for a move lower towards the 1.2500 level. If this continues, expect further downside to occur towards the 1.2450 level. On the upside, resistance lies at the 1.2733 level where a break will aim at the 1.2800 level, its psycho level followed by the 1.2850 level. Further out, resistance comes in at the 1.2900 level. All in all, EUR remains biased to the upside in the short term.