The euro currency has fallen towards the 1.1530 level against the US dollar, as Italian equity markets tumble lower over rising two and ten-year Italian bond yields. The EURUSD pair is now trading at levels not seen since July 2017, as investors move away from the single currency and into greenback over fears coming out of the Italian economy. Traders now look for further EURUSD weakness below the 1.1554 level, as investors move into safe-haven currencies.
The EURUSD pair is strongly bearish while trading below the 1.1607 level. Key support is located at the 1.1500 and 1.1425 levels.
If the EURUSD pair rises back above the 1.1554 level, we may see a technical correction back towards the 1.1607 support level.
