The euro is struggling to move above the 1.1100 resistance level against the US dollar as the recent downside momentum in the pair increases. A break above the 1.1100 resistance level could see the EURUSD pair rallying back towards the 1.1145 technical area. A sustained loss of the 1.1060 level would be negative for the EURUSD and could result in heavy losses for the pair this week.
The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.1145 and 1.1170 levels.
The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1060 and 1.1020 levels.
