EURUSD STILL BEARISH BELOW 1.1431 LEVEL
The euro is holding around the 1.1400 level against the US dollar in early Thursday trade after finding interim technical support from the 1.1380 level. The EURUSD pair retains an intraday bearish bias while trading below the 1.1431 resistance level. Price still trades below the neckline of a bearish head and shoulders pattern, ahead of the release of key IFO data from the German economy.
The EURUSD pair is strongly bearish while trading below the 1.1431 level, key technical support is found at the 1.1380 and 1.1300 levels.
If the EURUSD pair moves above the 1.1431 level, key intraday resistance is found at the 1.1465 and 1.1510 levels.