Daily Technical Strategist on EURUSD
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EURUSD: Vulnerable On Price Hesitation.
EURUSD: Although EUR is facing price hesitation, it still faces downside threats. outlook on EUR remains biased to the downside though hesitating. Support is seen at 1.1250 level with a cut through here opening the door for more downside towards the 1.1200 level. Further down, support lies at the 1.1150 level where a break will expose the 1.1100 level. Its daily RSI has turned lower supporting this view. On the upside, resistance lies at the 1.1400 level where a violation will aim at the 1.1450 level where a break will aim at the 1.1500 level, its psycho level followed by the 1.1550 level. Further out, resistance comes in at the 1.1600 level. All in all, EUR remains biased to the downside in the medium term.