EURUSD TESTING CRITICAL WEEKLY SUPPORT
The euro has fallen back towards critical weekly support against the greenback, after the EURUSD pair failed to hold onto its recent strong gains above the 1.1724 level. The EURUSD pair is now testing the 1.1674 level, which is a critical support area protecting further intraday losses towards the 1.1630 region. Sellers will look to hold price below the 1.1674 level to encourage further heavy selling, while bulls will try to edge price back above the 1.1700 level once again.
The EURUSD pair is intraday bearish while trading below the 1.1674 level, key support is found at the 1.1638 and 1.1600 levels.
If the EURUSD pair moves above the 1.1700 level, key technical resistance is found at the 1.1724 and 1.1750 levels.