EURUSD MEDIUM TERM SELLERS BACK IN CONTROL
The corrective move higher in the EURUSD pair now appears over and sellers are targeting the 1.1300 level as the US dollar index soars towards to new 2018 trading highs. A bearish double-top price pattern is also putting further selling pressure on the EURUSD on Wednesday. If price breaks below the 1.1300 support level, heavy technical selling is expected towards the 1.1220 level.
The EURUSD pair is intraday bearish while trading below the 1.1365 level, key support is now found at the 1.1300 and 1.1220 levels.
If the EURUSD pair moves above the 1.1365 level key resistance is found at the 1.1400 and 1.1430 levels.