EURUSD remains vulnerable in the 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 opens 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.
