EURUSD: Weak And Vulnerable, Eyes Further Downside
EURUSD: With more weakness seen on Thursday, further declines cannot be ruled out. Support lies at the 1.3100 level where a reversal of roles as support is expected. Further down, support comes in at the 1.3189 level followed by the 1.3000 level where a violation will target the 1.2900 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1.3222 level where a break will aim at the 1.3415 level. Further out, resistance comes in at the 1.3450 level followed by the 1.3500 level and possibly higher towards the 1.3600 level. All in all, EUR continues to retain its downside bias in the short term
EURUSD: With more weakness seen on Thursday, further declines cannot be ruled out. Support lies at the 1.3100 level where a reversal of roles as support is expected. Further down, support comes in at the 1.3189 level followed by the 1.3000 level where a violation will target the 1.2900 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1.3222 level where a break will aim at the 1.3415 level. Further out, resistance comes in at the 1.3450 level followed by the 1.3500 level and possibly higher towards the 1.3600 level. All in all, EUR continues to retain its downside bias in the short term