The euro currency has fallen back towards the worst levels of the week against the US dollar as traders start to worry about rising Italian bond yields. EURUSD bears now need sustained technical weakness below the 1.2130 level to increase selling pressure towards the pair. Any moves back above the pivotal 1.2175 level are likely to face strong resistance from the 1.2200 level.
The EURUSD pair is only bearish while trading below the 1.2175 level, key support is found at the 1.2130 and 1.2060 levels.
The EURUSD pair is only bullish while trading above the 1.2175 level, key resistance is found at the 1.2200 and 1.2220 levels.