The euro currency has a slight negative bias against the US dollar as the new trading begins, following last week’s heavy rejection from just below the 1.0900 level. Bearish head and shoulders patterns across multiple time frames are warning that the EURUSD pair could still fall further. Unless bulls move price above the 1.0900 level the short-term picture for the EURUSD remains bearish.
The EURUSD pair is only bullish while trading above the 1.0900 level, key resistance is found at the 1.0930 and 1.0980 levels.
The EURUSD pair is only bearish while trading below the 1.0900 level, key support is found at the 1.0770 and 1.0630 levels.
