EURUSD: Risk Remains Lower On Bearish Threats

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FXTechstrategy.com
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FXTechstrategy.com  
EURUSD: With the pair rejecting higher prices to close lower on Tuesday, further downside pressure is likely. Support lies at the 1.1200 level. Further down, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD remains biased to the upside on bull threats

 


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