The euro remains under pressure against the US dollar after breaking key technical support, following Thursday’s ECB policy meeting. Continued weakness under the 1.1060 level could see the EURUSD pair falling towards the 1.1020 support level later today. Overall, the key downside risk for the EURUSD pair is an extended decline towards the 1.0990 resistance level over the coming days.
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 1.1020 and 1.0990 levels.