EURO TRADERS NERVOUS HEADED INTO THE WEEKEND

The euro has started to weaken below the key 1.1800 level against the US dollar, as traders remain nervous about the Italian political and economic situation. The EURUSD pair was met with strong technical selling from the 1.1821 level during today’s European session, creating another bearish lower-high. Traders now look to the 1.1762 support level and also the US dollar index, as the greenback looks set’s to close the trading week with strong gains.

• The EURUSD is bearish while below the 1.1800 level, key support is found at the 1.1762 and 1.1711 levels.

• If the EURUSD pair moves above the 1.1800 level, we may see a correction back towards the 1.1821 and 1.1837 resistance levels.