EURUSD: Vulnerable, Remains Under Pressure!

EURO -dollar - 69875

With EURUSD trading below 1.2058/1.2033 levels, the pair remains vulnerable, further downside is likely, support lies at the 1.1822 levels ahead of the 1.1773 levels (main), a halt is likely and it may turn higher from here, however; below 1.1773 sees a fall risk to the 1.1730 levels, further down, support stands at the 1.1670 levels.

On the upside, immediate resistance comes at the 1.2000/1.2033 levels, a clear break above that level will turn the focus back on the 1.2058/1.2091 levels.

Conclusion: The EURUSD continues to face corrective pullback threats below the 1.2058/1.2033 levels…

Note that a daily closing above 1.2059 will restore the upside momentum and suggest a higher leg above 1.2091, otherwise; it will consolidate below 1.2059 before the next falling…

Intraday: The pair gapped lower this early morning, bottomed at the 1.1895 levels, pulled back to fill the gap, resistance comes at the 1.1935 levels where a rejection is likely, If seen, support comes at the 1.1860 levels where a cut will open 1.1822 levels, further down, support stands at the 1.1785/1.1735 levels. On the upside above 1.1935 on a 4-hour closing basis, will turn the focus back on the 1.2003/1.2033 levels where another fall is likely.

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