EURUSD BEARS MAY TARGET 1.1178 SUPPORT
The euro currency has remained under pressure against the US dollar during the European trading session, with price managing only a tepid move above 1.1250 level. EURUSD sellers are once again probing towards the current yearly low for the pair, at 1.1216. Bears may target the June 27th 2017 trading low, at 1.1178, if the 1.1216 support level is broken during the US trading session.
The EURUSD pair is strongly bearish while trading below the 1.1216 level, key technical support is now found at the 1.1178 and 1.1120 levels.
If the EURUSD pair moves above the 1.1258 level, key intraday resistance is found at the 1.1280 and 1.1330 levels.