EURUSD: With the pair capping its strength to sell off on Tuesday, EURUSD targets more downside pressure on weakness. This view remains valid as long as it trades below the 1.1059/1.0991 zone, its key resistance zone. On the downside, support resides at the 1.0900 zone. A cut through here will open the door for more upside towards the 1.0850 level. Further down, support lies at the 1.0800 level where a break will expose the 1.0750 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance lies at the 1.0950 levels where a violation if seen will aim at the 1.1000 level. A break of here will aim at the 1.1050 level with a turn below that level targeting the 1.1100 level. All in all, EURUSD targets more downside pressure on weakness.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.