The euro currency has a negative short-term bias against the US dollar, following last weeks strong bearish reversal from the 1.1890 level. Technical analysis shows that repeated failure to close the daily candle below the 1.1790 level may encourage a retest of the 1.1900 level. On an intraday basis, the 1.1840 technical level is likely to act as a major trading point for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1790 and 1.1750 levels.
The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1890 and 1.1940 levels.
