EURUSD vulnerable to further losses
The euro currency has continued to decline against the greenback during the European trading session, with the pair so far finding support from the 1.1378 level. Overall sentiment toward the EURUSD pair remains weak after the German economy posted worsening economic data this morning. The Relative Strength Index on the four-hour time frame is signalling that the EURUSD pair has yet to reach oversold conditions.
The EURUSD pair is intraday bearish while trading below the 1.1410 level, key technical support is found at the 1.1378 and 1.1360 levels.
If the EURUSD pair trades above the 1.1410 level, buyers may test towards the 1.1430 and 1.1460 resistance levels.