EURUSD STILL BEARISH BELOW 1.1650 LEVEL

The euro has opened the new trading-week around the key 1.1650 level against the US dollar, as traders await a breakout move in the greenback. Central bank action this week should provide the much needed directional catalyst for the EURUSD pair. Sellers will continue to target a strong break below the 1.1600 level, while buyers will try to move price above the 1.1724 resistance level.

• The EURUSD pair remains bearish while trading below the 1.1650 level, key support is found at the 1.1600 and 1.1554 levels.

• If the EURUSD pair trades above the 1.1650 level, buyers will likely target the 1.1680 and 1.1724 resistance levels.