EURUSD FURTHER BEARISH BELOW 1.1750 LEVEL

The euro currency remains under heavy selling pressure against the US dollar after falling to a fresh monthly-low in early Monday trading, hitting 1.1743. The EURUSD pair currently trades around the 1.1750 level, with downside pressures building as traders continue to buy the higher-yielding US dollar. Italian political and economic uncertainty and continued strength in the greenback remain the key drivers of the EURUSD.

• The EURUSD should experience further selling below the 1.1750 level, key support is found at the 1.1711 and 1.1650 levels.

• If the EURUSD pair holds above the 1.1750 level, buyers may test back towards the 1.1780 and 1.1800 resistance level.