EURUSD NECKLINE SUPPORT BROKEN
The euro has tumbled below the 1.1500 level against the US dollar, triggering a heavy selling as price broke through the former yearly-low, at 1.1507. The EURUSD pair is heavily bearish while trading below the neckline of the large head and shoulders pattern across the daily time frame. Traders now await the release of key CPI inflation data from the United States economy.
The EURUSD pair is strongly bearish while trading below the 1.1507 level, key support is now found at the 1.1410 and 1.1350 levels.
If the EURUSD pair moves above the 1.1507 level, key resistance is found at the 1.1530 and 1.1553 levels.