The euro has moved sharply lower against the US dollar during the European session after EU PMI Manufacturing data came in much weaker than expected. The EURUSD pair is now testing the key 1.1250 support level after failing through the pivotal 1.1290 level. The four-hour time frame is showing a head and shoulders pattern with neckline support around the 1.1175 level.

The EURUSD pair is bearish while trading below the 1.1290 level, key technical support is found at the 1.1216 and 1.1175 levels.

If the EURUSD pair trades above 1.1290 level, key intraday resistance is found at the 1.1315 and 1.1330 resistance levels.

- advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.