EURUSD: Under Pressure, But Around Critical Support…
As long as 1.1422/1.1471 resistance holds on a weekly closing basis, the EURUSD remains on the downside in the medium-term forecast. Support comes at 1.1300 level. Despite its immediate risk remains lower. The EURUSD will have to break and hold below 1.13000 level on a weekly closing basis to prevent a return to the upside. Below 1.1300 aims 1.1200 level. A halt is likely. It may test 1.1300 before attempts to break below 1.1200 Level. Anyway; below 1.1200 aims 1.1040, further down, support comes at 1.0837 level.
On the upside, resistance comes at 1.1422 ahead of 1.1471 level. Above 1.1471 sees limited gains to 1.1549/1.1617 levels. Above 1.1617 is bullish with risk to 1.1845 level.
Conclusion: The EURUSD remains exposed to the downside below 1.1471 levels…
Support: 1.1300, 1.1200, 1.1040, 1.0838
Resistance: 1.1422, 1.1471, 1.1549, 1.1617