The euro has continued to drift lower against greenback during the European trading session, as the U.S dollar index extends its rally to the upside. Price-action on the EURUSD pair currently trades around the 1.2230 level, after breaking below the former weekly-low around the 1.2245 mark. Moving into the U.S trading session we see the release of weekly jobs data from the United States economy, and a scheduled speech from FOMC member Neel Kashkari.
The EURUSD pair is strongly bearish while trading below the 1.2245 level, downside support is now found at 1.2200 and 1.2265.
If the EURUSD pair can move above the 1.2245 level, we may see price-action correct back towards the 1.2275 and 1.2313 levels.