The euro currency has slipped below the 1.1200 level against the US dollar during the European trading session after ECB President Mario Draghi delivered a bearish speech. The EURUSD pair is under technical pressure below the 1.1200 level, with 1.1170 key support. Overall, bulls need to move price back above the 1.1230 level to negate the extreme bearish sentiment.
The EURUSD pair is heavily bearish while trading below the 1.1200 level, key technical support is found at the 1.1170 and 1.1150 levels.
If the EURUSD pair trades above the 1.1200 level, buyers may test the 1.1218 and 1.1230 levels.