EURUSD: Bearish Despite Recovery Attempts…
As long as 1.1475/1.1549 resistance holds on a weekly closing basis, the EURUSD remains on the downside to 1.1190 levels. A halt is likely, it may test 1.1330 level before attempts breaking below 1.1190. However; a cut through 1.1190 would open 1.1015, further down, support comes at 1.0840 level.
On the upside, a failure to hold below 1.1330 on a weekly closing basis could mean a return to 1.1420 level. A halt is likely, it should turn lower from here, but a break will turn the focus on 1.1475/1.1549 level before another fall.
Conclusion: The EURUSD sees downside threats below 1.1549 level in the medium-term forecast.
Support: 1.1330, 1.1190, 1.1025, 1.0840
Resistance: 1.1420, 1.1475,1.1549, 1.1743, 1.1850