The euro is moving to the downside against the US dollar after finding strong technical resistance around the 1.1100 level earlier today. The EURUSD pair risks a deeper decline towards the 1.1044 level if the 1.1075 support level is broken today. Overall, given the large monthly reversal candle, the EURUSD pair still has the potential to stage a rally towards the 1.1255 level.
The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1044 levels.
The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1150 and 1.1180 levels.
