EURUSD Looks To Weaken Further On Bear Pressure

[KaffuPaK]

EURUSD: With EURUSD weakening for a fourth week in a row, more downside pressure is expected in the new week. Support lies at the 1.1050 level.

[AilaModo]

Further down, support comes in at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will target the 1.0900 level.

[Kurtlopy]

Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level.

[Chriserar]

Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. All in all, EURUSD remains biased to the downside on more decline.

http://www.fxtechstrategy.com/wp-content/uploads/2016/05/EURUSDWeekly-4.png