EURUSD Bear Pressure Targets The 1.1225 Area

Technical analysis of Forex market

EURUSD bear pressure targets the 1.1225 area as it looks for price extension. Support comes in at the 1.1225 where a violation will turn risk to the 1.1200 level. A turn below here will target the 1.1150 level. Further down, support lies at the 1.1100. Its daily RSI is bearish and pointing lower suggesting more decline. Conversely, on the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD bear pressure targets the 1,1225 area as more weakness is expected.

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