EURUSD: Consolidates With Downside Bias…
As long as 1.1419 resistance holds on a daily closing basis, the EURUSD remains neutral with risk to the downside. Support comes at 1.1320 level. A cut below1.1320 will restore the downside momentum, open 1.1175 level. Next support comes at 1.1015 ahead of 1.0838 level.
On the upside, resistance comes at 1.1419 level. Above that level sees recovery threats to 1.1549/1.1617 level. Anyway; above 1.1617 on a weekly closing basis will reverse risk to the upside to 1.1850 level. Next resistance comes at 1.2025 level.
Conclusion: The EURUSD remains exposed to the downside below 1.1419 level.
Support:1.1320, 1.1175, 1.1015, 1.0838
Resistance: 1.1419, 1.1549, 1.1617, 1.1849