EURUSD STILL UNDER PRESSURE BELOW 1.1750
The euro has moved to a fresh monthly trading-low against the US dollar on Monday, hitting 1.1716, as fears over the Italian economy intensify. The EURUSD pair has moved slightly higher since touching 1.1716, although bearish selling pressures are likely to remain while price clearly trades below the key 1.1750 level. Moving into the US trading session, the focus is likely to remain on rising Italian bond-yields and the increase in the value of the US dollar index.
The EURUSD pair is strongly bearish while trading below the 1.1750 level, key support is now at the 1.1716 and 1.1650 levels.
If the EURUSD pair moves back above the 1.1750 level, buyers may test back towards the 1.1780 and 1.1800 resistance level.