The euro has continued to weaken against the US dollar during the European trading session, with the pair falling to a fresh weekly trading low. Sellers are now approaching the 1.1135 support level, although major breakout support is located at the 1.1110 level. The four-hour time frame is also showing that the EURUSD pair may be creating a large head and shoulders pattern.
The EURUSD pair is heavily bearish while below the 1.1165 level, key technical support is found at the 1.1110 and 1.1060 levels.
If the EURUSD pair moves above the 1.1165 level, key technical resistance is found at the 1.1190 and 1.1234 levels.
