EURUSD: Sets Up To Resume Broader Weakness
EURUSD: With EUR halting its recovery to turn lower the past week, it faces further downside pressure. Our minimum target is seen at 1.2357 level with a cut through here opening the door for more downside towards the 1.2300 level. On the other hand, support lies at the 1.2200 level where a break will expose the 1.2150 level. Below here will pave the way for a move lower towards the 1.2100 level. On the upside, resistance lies at the 1.2600 level where a break will aim at the 1.2650 level, its psycho level followed by the 1.2700 level. Further out, resistance comes in at the 1.2750 level. All in all, EUR remains biased to the downside in the medium term.
