EURO BEARISH BELOW 1.2344 LEVEL
The euro has moved lower against the U.S dollar, hitting 1.2333, as rising long and short-term U.S treasury-yields caused the greenback to strengthen across the board. The EURUSD pair currently trades around the 1.2340 level, after strong technical rejection from the 1.2382 level on Thursday. Euro sellers are in control while price-action is below the 1.2344 level, with traders now looking to the release of PPI inflation data from the German economy.
The EURUSD pair is bearish while trading below 1.2344 level, further losses towards the 1.2300 and 1.2275 support levels remain possible.
If the EURUSD pair trades back above the 1.2382 resistance level, buyers may test towards the 1.2400 and 1.2413 levels.