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EURUSD: Downside Risk Builds Up

EURUSD: EURUSD continues to hesitate having rejected higher level prices to close lower on Tuesday. This development leaves it targeting further weakness on correction. Support lies at the 1.1350 level where a violation will aim at the 1.1300 level. A break of here will aim at the 1.1250 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1450 level with a cut through here opening the door for more upside towards the 1.1500 level. Further up, resistance lies at the 1.1550 level where a break will expose the 1.1600 level. All in all, EURUSD remains biased to the downside on further pullback.

EURUSD: Downside Risk Builds Up

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