EURUSD faces risk of further weakness with more decline expected in the new week. On the down, support comes in at 1.2050 level with a violation opening the door for a run at the 1.2000 level. Further down, support is seen at the 1.1950 level. A cut through that level will clear the way for a move towards the 1.1900 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance comes in at the 1.2150 with a break of that area turning risk towards the 1.2200 level. A move above here will target the 1.2250 level. Further up, resistance stands at the 1.2300. All in all, EURUSD looks for more downside pressure on price rejection.
