FURTHER EURUSD LOSSES LIKELY BELOW 1.1675
The euro currency has come under further selling pressure against the US dollar during today’s European selling, with price strongly rejected from the 1.1727 level. The EURUSD pair currently trades around the 1.1670 level, after finding interim support from the 1.1660 level so far this morning. With a lack of macroeconomic news today, technical traders will look for further euro weakness below the 1.1675 level.
The EURUSD is likely to come under further selling pressure while trading below the 1.1675 level. Key support is found at the 1.1645 and 1.1615 levels.
If the EURUSD pair moves above the 1.1675 level, price may correct back towards the 1.1700 and 1.1727 levels.