EURUSD LOSSES EXTEND CLOSE TO 1.1800 LEVEL
The euro has remained under strong selling pressure against the U.S dollar during today’s European trading session, with price finding technical support just before the 1.1800 level. The EURUSD pair currently trades around the 1.1850 level, after finding a floor at 1.1822, earlier today. The fear of fresh Italian elections and broad-based U.S dollar strength continue to weigh on the single currency.
The EURUSD pair is intraday bearish while trading below the 1.1886 level, key support is now found at the 1.1822 and 1.1800 levels.
If we see the EURUSD pair starting to trade back above the 1.1886 level, buyers may be encouraged to test towards the 1.1913 and 1.1938 resistance levels.