EURUSD LOWER ON RISK AVERSION
The euro is starting to shed earlier gains against the US dollar, as Italian and German ten-year bond yield spreads continue to widen. Sellers need to move price below the 1.1390 support level to change the intraday sentiment surrounding the EURUSD pair to bearish. The 1.1470 level is now the key resistance level buyers need now need to break to reach the medium-term bullish target, of 1.1500.
The EURUSD pair is bullish while trading above the 1.1390 level, key resistance is now found at the 1.1470 and 1.1500 levels.
If the EURUSD pair trades below the 1.1390 level, key intraday support is found at the 1.1360 and 1.1330 levels.