EURUSD MEDIUM-TERM BEARISH BELOW 1.2275
The euro has continued to slide lower against the greenback, with price-action so far finding weekly technical support from just above the key 1.2275 support level. The EURUSD pair is facing a sentiment shift and further heavy trading losses below the 1.2275 support level, as the U.S dollar index starts to firm above the key 90.00 level. With European and U.S trading desks closed for the long Easter weekend, volatility and trading volumes may be subdued on the EURUSD pair.
The EURUSD pair will start to turn bearish on a medium-term timeframe once clearly below the 1.2275 level, key intraday technical support is then found at the 1.2239 and 1.2205 levels.
Should price-action on the EURUSD pair move back above the 1.2334 level, a correction back towards the 1.2382 and 1.2400 levels may occur.