EUR/USD: With the pair backing off higher prices on Tuesday, weaken further on Wednesday, more decline is likely in the days ahead. Resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. Its daily RSI is bearish and pointing lower supporting this view. All in all, EURUSD faces further downside pressure on a corrective pullback.

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