EURUSD TESTING TRIANGLE SUPPORT
The euro is trading lower against the US dollar in early Wednesday trade, with price testing key trendline support around the 1.1310 level. If sellers break under the triangle pattern, a decline towards the former important swing low, at 1.1267, seems likely. The MACD indicator on the four-hour time frame is also signalling further intraday losses for the EURUSD pair.
The EURUSD pair is strongly bearish while trading below the 1.1310 level, key technical support is found at the 1.1267 and 1.1216 levels.
If the EURUSD pair moves above the 1.1377 level, buyers may test the 1.1390 and 1.1430 resistance levels.