EURO SELLERS TARGETING KEY SWING-LOW
The euro has remained under selling pressure against the U.S dollar during the European trading session, after the German IFO survey missed expectations. The EURUSD pair currently trades below the 1.2200 handle, with price-action managing only a shallow bounce towards the 1.2224 level so far. Sellers are likely to target the key swing-low, found at the 1.2154 level, while buyers need to stabilize price-action above the 1.2214 level.
The EURUSD pair is bearish while trading below the 1.2214 level, sellers may now target towards the 1.2154 and 1.2090 levels.
Should the EURUSD pair starts to hold above the 1.2214 level, buyers may attempt to test towards the 1.2224 and 1.2248 levels.