EURUSD: Maintains Its medium Term Weakness
EURUSD: With EUR declining strongly further the past week, further downside is likely in the days ahead…Support is seen at 1.1150 level with a cut through here opening the door for more downside towards the 1.1110 level. Further down, support lies at the 1.1050 level where a break will expose the 1.1000 level. On the upside, resistance lies at the 1.1250 level where a violation will aim at the 1.1300 level where a break will aim at the 1.1350 level, its psycho level followed by the 1.1400 level. Further out, resistance comes in at the 1.1450 level. All in all, EUR remains biased to the downside in the medium term.
