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EURUSD: Retains Its Broader Downside Bias

EURUSD: The pair continues to retain its downside pressure as more weakness looks to occur in the days ahead. On the upside, resistance comes in at 1.0600 level with a cut through here opening the door for more upside towards the 1.0650 level. Further up, resistance lies at the 1.0700 level where a break will expose the 1.0750 level. Conversely, support lies at the 1.0500 level where a violation will aim at the 1.0450 level. A break of here will aim at the 1.0400 level. Its daily RSI is bearish and pointing lower supporting this view. All in all, EURUSD faces further downside pressure short term.

EURUSD: Retains Its Broader Downside Bias.

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