EUR/USD Looks To Weaken Further On Bear Pressure

EUR/USD: With EUR/USD weakening for a fourth week in a row, more downside pressure is expected in the new week. Support lies at the 1.1050 level. Further down, support comes in at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will target the 1.0900 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. All in all, EU/RUSD remains biased to the downside on more decline.

EUR/USD Weekly Chart

This entry was posted in Market and tagged . Bookmark the permalink.
0 0 votes
文章评分
Subscribe
Notify of
guest
0 评论
Inline Feedbacks
View all comments