EURUSD Retains Bear Pressure, Eyes Support Located at 1.12700

Mohammed Isah FXTechstrategy

EURUSD retains bear pressure as it eyes more weakness towards the 1.1270 zone. Support lies at the 1.1250 where a violation will aim at the 1.1200 level. A break below here will aim at the 1.1150 level. Further down, support lies at the 1.1100. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face downside pressure medium term.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1487
2. R2 1.1454
3. R1 1.1392
PP 1.136
1. S1 1.1298
2. S2 1.1266
3. S3 1.1204

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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