EURUSD STILL BEARISH BELOW 1.1800
The euro continues to consolidate below the 1.1800 level against the US dollar, ahead of the release of key eurozone macroeconomic data this morning. The EURUSD pair currently trades around the 1.1765 level, after being strongly rejected from the 1.1829 level on Tuesday. Traders look to the 1.1750 to 1.1800 range for further direction, and the release of key monthly PMI Manufacturing and Sevices data from the eurozone.
The EURUSD pair is only intraday bullish while trading above the 1.1800 level. Above the 1.1800 level buyers may test towards the 1.1829 and 1.1875 resistance areas.
If the EURUSD pair continues to trade below the 1.1800 level, key technical support is found at the 1.1750 and 1.1713 levels.