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EURUSD: Bear Risk Builds Up On 1.0710 Zone

EURUSD: With EURUSD closing lower the past week, bear risk builds up on 1.0710 level. On the downside, support is located at the 1.0710 level and if violated, expect more weakness to happen towards the 1.0650 level. Further down, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance is comes at 1.0850 level with a cut through here opening the door for more upside towards the 1.0900 level. Further up, resistance lies at the 1.0950 level where a break will expose the 1.1000 level. All in all, EURUSD bear risk builds up on 1.0710 level, its Jan 05 2016 low.

EURUSD: Bear Risk Builds Up On 1.0710 Level

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