EURO STILL BEARISH BELOW 1.1770
The euro continues to trade towards the lower end of its weekly range against the U.S dollar, as euro sellers continue to thwart intraday upside advances from the single currency. The EURUSD pair currently trades around the 1.1755 level, ahead of the release of the October German IFO survey during Wednesday's European trading session.
The EURUSD pair still remains bearish while trading below the 1.1770 technical level. Further declines towards the 1.1750, 1.1735 and 1.1713 levels can be expected, while price-action continues to struggle to regain the 1.1770 level.
Should intraday EURUSD buyers push price-action back above the key 1.1770 technical level, further intraday advancement towards the 1.1792 and 1.1802 levels remains likely.