EURUSD NOW TRADING BELOW KEY SUPPORT
The euro has fallen below key support against the US dollar during the European trading session, as the single currency comes back under pressure over concerns about the Italian government's budget plan. The EURUSD pair has fallen below the 1.1730 support level, turning the intraday trend to bearish. Sellers will likely target the 1.1650 level, while buyers now need to stabilize price above the 1.1730 level.
The EURUSD pair is further bearish while trading below the 1.1700 level, key support is now found at the 1.1650 and 1.1617 levels.
If the EURUSD pair moves above the 1.1730 level, the price may correct back towards the 1.1750 and 1.1780 resistance levels.