EURUSD further losses expected
The euro remains under bearish pressure against the US dollar on Tuesday, with the pair briefly dropping towards the key 1.1300 support level. Further intraday losses are expected while the EURUSD pair trades below the 1.1337 level, which is former support now turned key resistance. Technical indicators on the four-hour time frame continue to suggest that more weakness is likely for the EURUSD pair.
The EURUSD pair is bearish while trading below the 1.1337 level, key support remains at the 1.1300 and 1.1275 levels.
If the EURUSD pair trades above the 1.1337 level, key technical resistance is found at the 1.1370 and 1.1390 levels.