EURO BACK TESTING KEY SUPPORT AT 1.2292
The euro is losing bullish momentum against the greenback after earlier rallying to the 1.2351 level, as the U.S dollar index starts to move higher again. The EURUSD pair is currently trading back towards the key 1.2292 technical level, with sellers regaining control from the 1.2321 level during the European trading session. The U.S dollar index and volatile moves in the U.S treasury market remain the main drivers of EURUSD price-action on Friday.
- The EURUSD pair remains under bearish pressures while trading below the 1.2292 technical level, further losses towards the 1.2259 and 1.2232 levels appear likely.
- Should EURUSD price-action move back above the 1.2292 level, key intraday resistance is found at the 1.2310 and 1.2351 levels.