The euro currency has come back under pressure against the US dollar, following a major technical rejection from the 1.2260 resistance zone. The price action surrounding the EURUSD pair is fairly bearish at the moment as traders continue to sell into rallies. With this in mind, EURUSD bears need to break the 1.2160 support level today to keep the downside momentum intact.
The EURUSD pair is only bearish while trading below the 1.2110 level, key support is found at the 1.2060 and 1.2000 levels.
The EURUSD pair is only bullish while trading above the 1.2110 level, key resistance is found at the 1.2125 and 1.2160 levels.