Daily Technical Strategist on EURUSD

EURUSD: Resumes Weakness

EURUSD: With the pair declining on Thursday, it now faces further downside pressure. Support is seen at 1.1300 level with a cut through here opening the door for more downside towards the 1.1450 level. Further down, support lies at the 1.1400 level where a break will expose the 1.1350 level. Below here will pave the way for a move lower towards the 1.1300 level. On the upside, resistance lies at the 1.1600 level where a violation will aim at the 1.1650 level where a break will aim at the 1.1700 level, its psycho level followed by the 1.1750 level. Further out, resistance comes in at the 1.1800 level. All in all, EUR remains biased to the downside in the medium term.