The euro currency has opened the new trading under pressure against the US dollar, after the pair closed the previous weekly candle below its 200-day moving average for the first-time since May 202. If the EURUSD pair continues to hold under its 200-day moving average this week then further heavy selling is likely. In terms of bearish targets, the EURUSD pair could head towards the 1.1710 or even the 1.1640 support level in the short-term.
The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1870 and 1.1900 levels.
EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1710 and 1.1640 levels.
