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EURUSD: Extends Bearishness With Eyes On 1.1300

EURUSD: With EURUSD continuing to weaken extending its downside pressure on Monday, further decline is envisaged. Support lies at the 1.1300 level. Further down, support comes in at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will target the 1.1150 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 1.1400 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. All in all, EURUSD remains biased to the downside.

EURUSD: Extends Bearishness With Eyes On 1.1300

 

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