EURUSD HEAD AND SHOULDERS PATTERN IN PLAY
The euro is trading on the back foot against the US dollar on Friday after the United States economy posted much better than inflation data during yesterday’s US session. The EURUSD pair is intraday bearish while trading below the 1.1681 level and continues trade within a bearish head and shoulders pattern. Financial market participants now look to key Inflation and Unemployment data from the eurozone economy.
The EURUSD pair is intraday bearish while trading below the 1.1681 level, key support is found at the 1.1640 and 1.1590 levels.
If the EURUSD pair moves above the 1.1681 level, buyers are will likely to test towards the 1.1700 and 1.1730 support levels.