The euro currency is starting to move lower against the US dollar, following a strong technical rejection from just below the 1.1270 resistance level this morning. Despite the rejection, the EURUSD pair still holds a positive trading bias while the price holds above the 1.1240 area. A sustained loss of the 1.1240 support level could see the EURUSD pair falling back toward the 1.1200 support level.
The EURUSD pair is only bullish while trading above the 1.1230 level, key resistance is found at the 1.1250 and 1.1270 levels.
The EURUSD pair is only bearish while trading below the 1.1230 level, key support is found at the 1.1190 and 1.1150 levels.