EUR/USD: The pair continues to hold on to its downside pressure leaving risk lower in the new week. However, we could see a mild price recovery higher. On the downside, support lies at the 1.0400 level where a violation will aim at the 1.0350 level.
A break of here will aim at the 1.0300 level. Its daily RSI is bearish and pointing suggesting further weakness.
Conversely, on the upside, resistance comes in at the 1.0500 level with a cut through here opening the door for more upside towards the 1.0550 level. Further up, resistance lies at the 1.0600 level where a break will expose the 1.0650 level.
All in all, EUR/USD faces further downside pressure.
