The euro currency has started to move lower against the US dollar after the pair found strong resistance from the 1.1600 resistance level yesterday. EURUSD bears may attempt to force a key technical test of the 1.1470 support zone if the 1.1600 level continues to hold. Dip-buyers will also be interested in a technical pullback towards the 1.1470 level, in anticipation of further gains towards the 1.1640 level.
The EURUSD pair is only bullish while trading above the 1.1470 level, key resistance is found at the 1.1600 and 1.1640 levels.
The EURUSD pair is only bearish while trading below the 1.1470 level, key support is found at the 1.1420 and 1.1400 levels.
