EURUSD PAIR TESTING 1.2300 SUPPORT LEVEL
The euro continues to trade to the downside against the greenback, as the U.S dollar index pushes higher, and euro sellers starting to probe the 1.2300 support level. The EURUSD pair looked past record German employment data earlier, as the countries Unemployment rate fell to its lowest ever monthly level. Below the 1.2300 support level, the 1.2239 March-low is the key support area to watch, whilst the 1.2382 level remains key daily resistance area.
The EURUSD pair is likely to see strong selling below the 1.2300 level, with key support then found at the 1.2275 and 1.2239 levels.
Should the EURUSD pair manage to correct above the 1.2382 level, further upside towards the 1.2400 and 1.2430 levels seems possible.