Wed, Oct 05, 2022 @ 15:33 GMT
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EURUSD Eyeing Further Weakness On Bear Pressure

EURUSD faces risk of further downside pressure after extending its weakness on Monday. On the down, support comes in at 1.2100 level with a violation opening the door for a run at the 1.2050 level. Further down, support is seen at the 1.2000 level. A cut through that level will clear the way for a move towards the 1.1950 level. On the upside, resistance comes in at the 1.2200 with a break of that area turning risk towards the 1.2250 level. A move above here will target the 1.2300 level. Further up, resistance stands at the 1.2350. All in all, EURUSD looks for more downside pressure in the days ahead.

FXAssure
FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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