EURUSD Bias Remains To The Downside

EURUSD: EUR lost its upside momentum to close lower the past week leaving further downside pressure on the cards in the new week. However, note that a consolidation with a pullback higher may occur. Support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level with a turn below that level targeting the 1.0950 level. Its weekly RSI is bearish and pointing lower suggesting further downside pressure. Conversely, resistance is seen at
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