The euro currency has moved sharply lower against the US dollar, placing the pair in a vulnerable technical position over the short-term. Sustained weakness below the 1.1750 level could see the EURUSD pair starting to decline back towards the 1.1500 area. Multiple daily price closes below the 1.1750 level should signal the start of a much-larger bearish move in the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1800 level, key support is found at the 1.1680 and 1.1550 levels.
The EURUSD pair is only bullish while trading above the 1.1800 level, key resistance is found at the 1.1840 and 1.1870 levels.
