EUR/USD Follows Through Lower, Sets Up For 1.0900 Level
EUR/USD: EUR continues to look weak and vulnerable to the downside. It is currently weakening, following through lower on the back of its Monday losses. Nearby support is located at the 1.0950 level, with a break turning risk further lower towards the 1.0896 level. Further down, support lies at the 1.0850 level, where a violation will aim at the 1.0800 level and subsequently the 1.0750 level. Its daily RSI is 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, EUR remains biased to the downside, with eyes on the 1.0900 level.
EUR/USD Daily Chart