The euro has started the week under pressure against the US dollar, following a bearish close below the 1.1060 level last Friday. The 1.0980 support level is now in focus, with EURUSD sellers likely to target the 1.0930 level if the 1.0980 level is breached. EURUSD bulls need to close the daily candle back above the 1.1100 resistance level to encourage technical buying.
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 1.0980 levels.