EURUSD – Consolidates with downside bias !

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The EURUSD halted its weakness 2 weeks ago at 1.2795 levels. But as long as the key resistance 1.3242 holds on a weekly closing basis. The pressure will be on the key support 1.2745, a break will look at 1.2661 levels, losing 1.2661 on a weekly closing basis is likely to bring a free fall towards 1.2000 levels.

On the upside, the pair needs to overcome 1.3242 levels, If seen, the risk will be increased towards 1.3710 levels, however; as long as the key resistance 1.3242 holds, the pair will remain biased to the downside with risk towards/below 1.2661 levels.

MARKET DATA

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