EURUSD -Under Pressure with Risk Towards 1.2400 levels , Resistance at 1.2998 !

EURO-Dollar-min

The EURUSD continued to maintain its bearish momentum yesterday after topping at 1.2998 levels, pressure now will be on the key support 1.2795. The EURUSD will have to hold below 1.2795 levels on a daily closing basis to push the market for further downside losses. If seen. It will target 1.2625 where a breach will turn the focus on the 1.2500 ahead of 1.2400 levels.

Alternatively, a failure to hold below 1.2795 could mean a return to the 1.2998 levels, to eliminate the bearish threat, the pair will have hold and consolidate above 1.2998 levels on a daily closing basis, If seen, the pair is likely to target 1.3195 levels where a breach will turn focus on the 1.3290 levels. In all the pair is likely to back to its downside bias as long as the key resistance 1.2998 holds.

MARKET DATA

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