The euro currency has started to trade back towards the 1.1840 area against the US dollar due to an increase in risk-off trading sentiment in the financial market. Traders are expected to buy any dips under the 1.1800 level in expectation of a coming rally towards the 1.2050 resistance area. To the downside, a sustained breakout under the 1.1760 may cause EURUSD bulls to capitulate.
The EURUSD pair is only bullish while trading above the 1.1760 level, key resistance is found at the 1.1915 and 1.2050 levels.
The EURUSD pair is only bearish while trading below the 1.1760 level, key support is found at the 1.1710 and 1.1640 levels.
