The euro is under slight downside pressure against the US dollar currency on Monday, with the pair trading towards the lower end of its seven-day trading range. The EURUSD pair is expected to drift lower while trading below the pivotal 1.1380 level, with key support below at 1.1337. The MACD indicator on the four-hour time frame is also showing further intraday losses appear likely.
The EURUSD pair is intraday bearish while trading below the 1.1380 level, key support is found at the 1.1337 and 1.1300 levels.
If the EURUSD pair trades above the 1.1380 level, key technical resistance is found at the 1.1400 and 1.1420 levels.
