The euro is moving to the downside against the US dollar, following the recent technical failure around the 1.1200 resistance level. If downside pressure continues the EURUSD pair could fall back towards the 1.1125 support level at a minimum. Overall, unless the 1.1200 level is broken with conviction, a bearish correction in the EURUSD pair may be on the horizon.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1200 and 1.1240 levels.
The EURUSD pair is bearish while trading below the 1.1170 level, key support is found at the 1.1145 and 1.1125 levels.
