EURUSD – remains vulnerable short term to the downside on further weakness. But, a corrective recovery could occur in the new week. On the upside, resistance comes in at 1.1550 level. A break through there opening the door for more upside towards the 1.1600 level. Further up, resistance lies at the 1.1650 level where a break will expose the 1.1700 level. On the downside, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD still faces further downside pressure but with caution of a recovery higher.
