EURUSD: Weakens, Extends Bear Pressure

EURUSD: With the pair continuing to weaken further on Wednesday, more decline is likely in the days ahead. On the upside, resistance comes in at 1.0550 level with a cut through here opening the door for more upside towards the 1.0600 level. Further up, resistance lies at the 1.0650 level where a break will expose the 1.0600 level. Conversely, support lies at the 1.0450 level where a violation will aim at the 1.0400 level. A break of here will aim at the 1.0350 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure on declines