EURUSD: Bearish Bias Below 1.1387 Levels…
As long as 1.1387 resistance holds on a daily closing basis, the EURUSD remains neutral with risk to the downside. A failure to hold above 1.1387 level on a daily closing basis could mean a return to 1.1285 level. A cut would open 1.1225 level, further down, support comes at 1.1155 level.
On the upside, above 1.1387 sees a recovery threat to 1.1470 level, further upside, resistance comes at 1.1150 level.
A sustained breakout above 1.1387 is needed to push the pair to 1.1473 level, otherwise; it will return to 1.1365 where a cut will open 1.1285.
Conclusion: The EURUSD sees consolidation with downside risk below 1.1387 level.
Support: 1.1365, 1.1285, 1.1225, 1.1155
Resistance: 1.1387, 1.1420, 1.1473, 1.1550
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