Technical Analysis

EURUSD: Eyes Further Weakness On Bear Pressure

Typography

EURUSD: The pair weakened further on Thursday opening the door for more decline in the days ahead. Resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Conversely, support lies at the 1.1750 level where a break will target the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD faces further downside weakness on bear pressure.

Author: FXTechstrategy Website: http://www.fxtechstrategy.com/
FXTechstrategy
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