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EURUSD: Looks For Further Corrective Pullback

EURUSD: With EURUSD closing lower the past week, further decline is expected in the new week. Support lies at the 1.1200 level. Further down, support comes in at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will target the 1.1050 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1350 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 on corrective pullback.

EURUSD: Looks For Further Corrective Pullback

 

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