EURUSD: Looks To Resume Broader Weakness

EURUSD: With EUR continuing to maintain its downside pressure, more weakness is envisaged. Support is seen at 1.1700 level with a cut through here opening the door for more downside towards the 1.1650 level.

Further down, support lies at the 1.1600 level where a break will expose the 1.1550 level. Below here will pave the way for a move lower towards the 1.1500 level.

On the upside, resistance lies at the 1.1800 level where a violation will aim at the 1.1850 level where a break will aim at the 1.1900 level, its psycho level followed by the 1.1950 level. Further out, resistance comes in at the 1.2000 level. All in all, EUR remains biased to the downside in the medium term.

Read Next

Did Draghi pre-announce QE in Berlin?

• Yohay Elam
• 8 years

EURUSD: With EUR continuing to maintain its downside pressure, more weakness is envisaged. Support is seen at 1.1700 level with a cut through here opening the door for more downside towards the 1.1650 level. Further down, support lies at the 1.1600 level where a break will expose the 1.1550 level. Below here will pave the way for a move lower towards the 1.1500 level. On the upside, resistance lies at the 1.1800 level where a violation will aim at the 1.1850 level where a break will aim at the 1.1900 level, its psycho level followed by the 1.1950 level. Further…