EURUSD UNDER RENEWED SELLING PRESSURE
The euro has come under renewed technical selling pressure against the greenback during the European trading, with the price falling towards the 1.1270 support region. The EURUSD pair is now trading below the neckline of a bearish head and shoulder pattern with a sizeable downside projection. The FOMC Meeting Minutes and FED Chair Jerome Powell’s scheduled speech are the key risk events for the EURUSD later today.
The EURUSD pair is strongly bearish while trading below the 1.1270 level, key technical support is now found at the 1.1216 and 1.1175 levels.
If the EURUSD pair holds above the 1.1270 level, buyers may test the 1.1300 and 1.1330 resistance levels.