FX.co ★ EURUSD remains weak

EURUSD is at 1.1244 just a few pips away from key short-term support. A break below 1.1215 will open the way for a move lower towards 1.1175 and 1.1140. Price is making lower lows and lower highs. The rejection at 1.1340 was a bearish sign.

Black line- RSI resistance

Red lines - Fibonacci expansion targets

EURUSD is weakening. EURUSD is just above key short-term support. The rejection at 1.1340 was an important weakness sign. A break below 1.1215 will confirm the weakness and push price to new lower lows. We remain bearish looking for a move towards 1.1150 as we explained from last week's analysis as long as the RSI is below the black resistance trend line.