The euro has fallen to a fresh monthly trading low against the US dollar during the European trading session, as German bond yields come under pressure. If sellers can break the 1.1300 level, the 1.1280 level is the next major support area to watch. The RSI indicator on the four-hour time frame shows that the EURUSD pair has reached extreme oversold conditions on the four-hour time frame.
The EURUSD pair is heavily bearish while trading below the 1.1300 level, key technical support is found at the 1.1280 and 1.1215 levels.
If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.
