EURUSD - Multiple Bearish Technical and Fundamental Confluences
EURUSD is currently extremely bearish.
From a fundamental perspective the rising Covid cases in the Eurozone are weighing heavily on the Euro, which can be observed across most EUR pairs.
Technically on EURUSD here we have a broken head and shoulders neckline in addition to a break of the 1.17000 psychological level. The next support zone on EU is around the 1.16100 level, September's low..
I can't see much stopping the fall if the fundamental pressure on Euro continues.
From a fundamental perspective the rising Covid cases in the Eurozone are weighing heavily on the Euro, which can be observed across most EUR pairs.
Technically on EURUSD here we have a broken head and shoulders neckline in addition to a break of the 1.17000 psychological level. The next support zone on EU is around the 1.16100 level, September's low..
I can't see much stopping the fall if the fundamental pressure on Euro continues.