EURUSD Sets Up To Weaken Further

EURUSD: With EURUSD selling off on Monday, it now faces further downside pressure in the days. Support lies at the 1.0950 level.

Further down, support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break here will aim at the 1.0800 level. Its daily RSI is bearish and pointing lower suggesting further weakness.

Conversely, on the upside, resistance comes in at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level.

All in all, EURUSD faces further bearishness on correction.