EURUSD bearish breakout underway
The euro has come under further selling pressure against the US dollar during the European trading session, with the pair breaking below trendline support. The EURUSD pair is increasingly likely to test the important 1.1300 level while trading under the key trendline. The RSI indicator on the four-hour time frame is turning sharply lower and is approaching levels not seen since November last year.
The EURUSD pair is bearish while trading below the 1.1360 level, key technical support remains at the 1.1330 and 1.1300 levels.
If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.