EURUSD : Weakens, Sells Off Below Key Support 1.1040 !

EURUSD : Weakens, Sells Off Below Key Support 1.1040 !

euro-dollar-594

8 hours ago, the EURUSD losses the key support 1.1040, declined towards the 1.1000 levels. This development leaves the pair targeting the 1.0970 levels, a halt is likely, but a cut would open 1.0915 next, further down, support comes at the 1.0875 levels.

On the upside, resistance comes at the 1.1068 levels, break of the 1.1068 levels will put the pair in recovery mode for retesting 1.1129 levels before the next fall.

Conclusion: As long as 1.1068 resistance holds on a 4- hour closing basis, Intraday outlook in EURUSD remains on the downside towards the 1.0970 levels ahead of the 1.0915 levels, above 1.1068 faces a recovery risk towards the 1.1129 levels before the next fall.

EURUSD - Weakens_002

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