The euro currency is starting to retrace its earlier gains against the US dollar, following another technical rejection from the 1.1160 resistance level. The 1.1100 level is the key downside breakout level to watch today, as it could inspire a much deeper move lower. Key support for the EURUSD pair under the 1.1100 level is found at the 1.1050 and the psychological 1.1000 levels.
The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.1050 and 1.1000 levels.
If the EURUSD pair trades above the 1.1187 level, bulls could test back towards the 1.1215 and 1.1244 levels.
