Daily Technical Strategist On EURUSD

EURUSD: Bearish, Extends Weakness.

EURUSD: With further weakness seen on Thursday, EUR faces additional downside pressure in the days ahead. Support comes in at the 1.3575 zone where a reversal of roles as support is likely. Below here will aim at the 1.3550 level and then 1.3500 level where a violation will target further downside towards the 1.3521/02 levels level. Further down, support stands at the 1.3450 level. Its daily RSI bearish and pointing lower supporting this view. Conversely, resistance resides at the 1.3664.00 level where a break will aim at the 1.3723 level and subsequently the 1.3774 level. Above here will open the door for more upside towards the 1.3800 level. All in all, EUR remains biased to the downside in the short term.

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