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EURUSD: Reverses Gain, Vulnerable

EURUSD: EURUSD reversed its Tuesday gain to close lower on Wednesday. This leaves risk lower on correction in the days ahead. Support lies at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will aim at the 1.1150 level. Its daily RSI is bearish and pointing lower suggesting further weakness. 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 further pullback risk.

EURUSD: Reverses Gain, Vulnerable

 

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