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EURUSD: Weakens, Eyes Further Downside

EURUSD: With EUR continuing to retain its downside pressure, the pair looks to extend that weakness. It was seen weakening as at the time of this analysis. Support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level with a turn below that level targeting the 1.0700 level. Conversely, resistance is seen at the 1.0950 level with a cut through here opening the door for more upside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. All in all, EUR faces downside threats in the medium term.

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