EURO STRONGLY BEARISH BELOW 1.2292 LEVEL
The euro has continued to move lower against the greenback, with price-action hitting 1.2268 overnight, as traders bought U.S dollar following the release of the FOMC Meeting Minutes. Price-action currently trades around the 1.2270 region, with intraday sellers firmly in control of the EURUSD whilst the pair trades below the 1.2292 technical level. Moving into today’s European session, traders look to the release of the ECB Meeting Minutes from the Governing Councils January 24th to January 25th policy meeting.
- The EURUSD pair is strongly intraday bearish whilst trading below the 1.2292 level, further losses towards the 1.2232 and 1.2210 levels remain possible.
- Should EURUSD price-action move back above the 1.2292 level, we may see a relief rally towards the 1.2330 and 1.2363 resistance level.