The euro currency remains vulnerable to further selling against the US dollar, after the pair closed the weekly candle below the 1.1640 level. Repeated rejection from the 1.1680 level is also increasing the chances of the pair dropping towards the 1.1500 level this week. EURUSD bulls need to break the 1.1680 resistance level in order to encourage a technical test of the 1.1770 level.
The EURUSD pair is only bearish while trading below the 1.1770 level, key support is found at the 1.1610 and 1.1570 levels.
The EURUSD pair is only bullish while trading above the 1.1770 level, key resistance is found at the 1.1830 and 1.1850 levels.
