EURO STILL BEARISH WHILE BELOW 1.1644 LEVEL
The EURUSD pair continues to struggle to gain traction above the key 1.1644 resistance level, as weaker than expected eurozone inflation data and political woes in Spain, weigh on euro intraday trading sentiment. Multiple technical price failures around the 1.1644 level during the European session, have pressured the EURUSD pair back towards the 1.1630 region. Traders now look to the release of key United States Consumer Confidence data, which due out in the upcoming U.S session.
The EURUSD pair remains intraday bearish while trading below the 1.1644 level, further declines towards the 1.1610 and 1.1580 support level look increasingly likely.
Should EURUSD pair hold price-action above the 1.1644 level for on a multi-time frame basis, further buying towards the 1.1680 and 1.1713 can be expected.