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EURUSD: Bearish, Threatens Further Weakness

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EURUSD: Bearish, Threatens Further Weakness

Postby FXTechstrategy » Sun Apr 02, 2017 1:22 pm

EURUSD: With the pair closing lower the past week, it now looks to weaken further as we enter a new week. Resistance comes in at 1.0700 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, support lies at the 1.0600 level where a violation will aim at the 1.0550 level. A break of here will aim at the 1.0500 level. All in all, EURUSD faces further bear threats.

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FXTechstrategy
 
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