EURUSD: The pair may have closed flat the past week, a sign of price exhaustion but it still holds on to broader downside bias. Support is located at the 1.0950 level But if violated, expect more weakness to occur towards the 1.0896 level. Further down, support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level with a turn below that level targeting the 1.0700 level. Its weekly RSI I bearish and pointing lower supporting this view. Conversely, resistance is comes at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. All in all, EURUSD broader bias continues to point lower on further bear threats.
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