EUR/USD: With the pair closing lower the past week, more weakness should follow. However, we may see a recovery higher following its Friday recovery (see daily chart). Resistance comes in at the 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level.
Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600 level. All in all, EUR/USD continues to face further corrective weakness threats but with caution.
