EUR/USD: The pair weakened further the past week leaving risk lower in the new week. On the downside, support lies at the 1.0550 level where a violation will aim at the 1.0500 level.
A break off here will aim at the 1.0450 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at  the 1.0650 level with a cut through here opening the door for more upside towards the 1.0750 level. Further up, resistance lies at the 1.0800 level where a break will expose the 1.0850 level.Â
All in all, EUR/USD faces further downside pressure in the new week.
