EURUSD INCREASINGLY BEARISH BELOW 1.1575
The euro continues to trade to the downside against the US dollar after ECB President Mario Draghi talked down a future ECB rate hike until late 2019 on Tuesday. The EURUSD pair currently trades around the 1.1570 level, after earlier find support from the 1.1530 level. Bearish selling pressure is increasing on the EURUSD pair after it was strongly rejected from the 1.1595 level.
The EURUSD pair is strongly bearish while trading below the 1.1575 level, further downside towards 1.1530 and 1.1480 remains possible.
If the EURUSD pair moves above the 1.1595 level, the price may correct back towards the 1.1615 and 1.1644 levels.