The euro currency has slumped to a fresh weekly trading low against the US dollar after the pair broke through the 1.1280 support barrier. Sustained losses below the 1.1260 level may trigger the next heavy EURUSD sell-off towards at least the 1.1235 support zone. Worse than expected US retail sales data later today may help to send the US dollar index lower and give the EURUSD a boost back towards the 1.1300 level.
The EURUSD pair is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1235 levels.
If the EURUSD pair trades above the 1.1300 level, buyers may test the 1.1321 and 1.1347 levels.
