EURUSD bear pressure continues to build up but with caution.With a higher close on Friday, the risk of price extension is likely.
Support lies at the 1.1350 level where a violation will aim at the 1.1300 level. A break below here will aim at the 1.1250 level.
Further down, support lies at the 1.1200. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance comes in at 1.1450 level. A break through there will open the door for more upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a break will turn attention to the 1.1600 level.
All in all, EURUSD continues to face further downside pressure but with recovery risk
