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EURUSD Broader Bias Remains Lower Medium Term

EURUSD broader bias remains lower medium term. This development leaves risk lower in the days ahead. Support comes in at the 1.0950 where a violation will turn risk to the 1.0900 level. A break below here will target the 1.0850 level. Further down, support sits at the 1.0800. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1100 level. Further up, resistance lies at the 1.1150 level. A cut through that level will clear the way for a move towards the 1.1200 level. All in all, EURUSD expects more weakness in the days ahead.

EURUSD broader bias remains lower medium term. This development leaves risk lower in the days ahead. Click To Tweet

EURUSD Broader Bias Remains Lower Medium Term

 

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