EURUSD: Having continued to hold to its downside bias triggered in the past week, the key support to aim at lies at the 1.2441 level. With a breach of there opening the door for more declines towards the 1.2286 level. Below here if seen will resume its broader medium term weakness and call for a run at the 1.2149 level. EUR may turn higher on testing and holding above this level but if that breaks, further declines could shape up towards the 1.2100 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, EUR will have to break and close above the 1.2748 level to annul its present weakness and then turn attention to the 1.2824 level. A cut through here will call for a move further higher towards the 1.2902 level. All in all, EUR remains vulnerable to the downside medium term.
EURUSD: Extends Weakness, Pressure Builds On 1.2441.
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