EURUSD: Bearish, Faces Further Downside Pressure…
As long as 1.0860 – broken support turned resistance – holds on a daily closing basis. The EURUSD remains on the downside to 1.0825. A halt is likely, it may test 1.0860 before attempts to break lower. Anyway; below 1.0825 aims the 1.0785 level, further down, support comes in the 1.0755 level.
On the upside, immediate resistance comes at the 1.0860 levels. Above that level sees recovery threats to 1.0890 levels, A break of 1.0890 will extend the corrective recovery to 1.0930 level.
In conclusion: The EURUSD sees downside treats below 1.0860 levels…
Support: 1.0825, 1.0785, 1.0755, 1.0720, 1.0685
Resistance: 1.0860, 1.0890, 1.0930, 1.0963, 1.1015
- German GDP (QoQ) (Q4) at 07:00 GMT.
- U.S Retail Sales (MoM) (Jan) at 13:30 GMT.