EURUSD testing key support

The euro currency has continued to weaken against the US dollar during the European trading session, with the pair now testing major support, at 1.1337. The EURUSD pair is likely to weaken towards the 1.1300 level if sellers can sustain bearish pressure below the 1.1337 level. Only a sustained move above the pivotal 1.1380 level can shift the bearish bias currently surrounding the EURUSD.

• The EURUSD pair is strongly bearish while trading below the 1.1337 level, key support is found at the 1.1300 and 1.1275 levels.

• If the EURUSD pair trades above the 1.1380 level, key technical resistance is found at the 1.1400 and 1.1420 levels.