EURUSD NEXT DOWNLEG BELOW 1.2154 LEVEL
The euro remains under heavy selling pressure against the U.S dollar after price-action closed below the pairs 100-day moving average, for the first time since December 2017. The EURUSD pair currently trades around the 1.2170 level, as the U.S dollar index continues to move to the upside. The sell-off in the EURSD is likely to accelerate, if the former medium-term swing price-low, located at the 1.2154 level, is convincingly broken today.
The EURUSD pair will turn heavily bearish below the key 1.2154 level, key support is then located at the 1.2090 and 1.1999 levels.
Should the EURUSD pair start to trade back above the 1.2186 level, buyers may test towards the 1.2214 and 1.2248 levels.