The euro currency has fallen back under the 1.2130 level against the US dollar due to ongoing fears about the Italian economy. The EURUSD pair is under technical pressure while trading below the 1.2130 level and could fall towards the 1.2060 support region. Higher time frame analysis shows that a bearish head and shoulders pattern is warning of a possible decline towards the 1.1950 region.
The EURUSD pair is only bearish while trading below the 1.2130 level, key support is found at the 1.2100 and 1.2060 levels.
The EURUSD pair is only bullish while trading above the 1.2130 level, key resistance is found at the 1.2200 and 1.2220 levels.
