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EUR extended its weakness on Friday following through on the back of its Thursday losses. Support lies at the 1.3737 level where a violation will aim at the 1.3700 level followed by the 1.3650 level.

Below here will aim at the 1.3600 level. Its daily RSI is bullish and pointing lower supporting this view.

Conversely, on a recovery higher , resistance resides at the 1.3844 level where a violation if seen will aim at the 1.3909 level followed by the 1.3950 level and subsequently the 1.3993/1.4000 levels. Above here if seen will aim at the 1.4050 level and after that the 1.4100 level. All in all, EUR remains biased to the downside on further weakness.

eurusd

 

Guest post by  FX Tech Strategy