The euro currency remains under pressure against the US dollar, following another major rejection from the 1.1800 level yesterday. Technical analysis shows that the EURUSD pair could drop towards the 1.1680 area before a meaningful recovery takes place. Overall, the EURUSD needs to bounce from the 1.1680 area of the pair could suffer steeper weekly losses towards the 1.1600 area.
The EURUSD pair is only bullish while trading above the 1.1750 level, key resistance is found at the 1.1800 and 1.1840 levels
The EURUSD pair is only bearish while trading below the 1.1740 level, key support is found at the 1.1680 and 1.1600 levels.
