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EURUSD Sets Up To Weaken Further

EURUSD: With EURUSD selling off on Monday, it now faces further downside pressure in the days. Support lies at the 1.0950 level. Further down, support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break of here will aim at the 1.0800 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. All in all, EURUSD faces further bearishness on correction.

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