EURUSD: With EUR reversing its recovery gains to close lower on Tuesday and following through lower during Wednesday trading session, it now faces further downside pressure. Support lies at the 1.3300 level where a break will expose the 1.3250 level.
Below here will pave the way for a move lower towards the 1.3200 level. If this continues, expect further downside to occur towards the 1.3150 level. Its daily RSI is bearish and pointing lower supporting this view.
On the upside, resistance lies at the 1.3378 level followed by the 1.3450 level. Further out, resistance comes in at the 1.3500 level followed by the 1.3550 level. All in all, EUR remains biased to the downside in the medium term.
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