EURUSD Declines On Further Bear Pressure

Technical analysis of Forex market

EURUSD faces risk of further move lower following its second day of declines today. Resistance comes in at the 1.0900 where a break will turn risk to the 1.0950 level. A breach above here will target the 1.10000 level. Further up, resistance stands at the 1.1050. Conversely, on the downside, support comes in at 1.0800 level with a violation of there opening the door for further weakness targeting the 1.0750 level. Further down, resistance lies at the 1.0700 level. A cut through that level will clear the way for a move towards the 1.0650 level. All in all, EURUSD looks for more downside pressure in the days ahead.