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EURUSD: Weakens, Eyes Key Support
EURUSD: With seen weakening, further decline towards its key support the 1.1096 level is expected. Support is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1000 level. Further down, support lies at the 1.0950 level where a break will expose the 1.0900 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 1.1200 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1300 level, its psycho level with a turn below that level targeting the 1.1378 level. Further out, resistance comes in at the 1.1450 level. All in all, EUR remains biased to the downside in the medium term.