Daily Technical Strategist on EURUSD
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EURUSD: Remains Weak And Vulnerable
EURUSD: With EUR seen weakening for a second day in a row, further bearishness is envisaged in the days ahead. Support lies at the 1.1150 level where a breach will aim at the 1.1100 level. Below here if seen will turn attention to the 1.1050 level where a violation will aim at the 1.1000. The pair should halt its weakness and turn higher at this level but if that level is taken out, expect further decline towards the 1.0950 zone with a turn below here targeting the 1.0900 level. Conversely, resistance lies at the 1.1250 level with a cut through here opening the door for more downside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. All in all, EUR remains biased to the downside on price weakness.