FX Promo Daily Analysis || DAY 18/10/2016

EURUSD: Pressure Builds Up On 1.1057 Zone

EUR/USD: The pair closed higher on Monday leaving risk higher on correction. Support lies at the 1.0900 level. Further down, support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level. Conversely, on the upside, resistance comes in at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EUR/USD faces further downside risk.