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EURUSD: Bearish, Sees Second Weak Of Weakness

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EURUSD: Bearish, Sees Second Weak Of Weakness

Postby FXTechstrategy » Sun Apr 09, 2017 11:53 am

EURUSD: With the pair weakening further the past week, more decline is envisaged in the new week. Resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its weekly RSI is bearish and pointing lower supporting this view. All in all, EURUSD faces further bear threats in the new week.

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