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EURUSD – Bearish, Resumes Downside Pressure

EURUSD – The pair resumed its weakness on Wednesday leaving risk of more decline on the cards. On the upside, resistance comes in at 1.2200 level with a cut through here opening the door for more upside towards the 1.2250 level. Further up, resistance lies at the 1.2300 level where a break will expose the 1.2350 level. Conversely, support lies at the 1.2100 level where a violation will aim at the 1.2050 level. A break of here will aim at the 1.2000 level. Below here will open the door for more weakness towards the 1.19500. All in all, EURUSD faces further downside threats.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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