EURUSD 1.1200 in focus
The euro has fallen to a fresh weekly trading low against the US dollar after buyers failed to move price above the key 1.1290 resistance level. The 1.1200 support level is now coming into focus for the EURUSD pair, with the 1.1170 level critical weekly support below. The daily time frame is showing a bearish head and shoulders pattern with a downside projection of over three-hundred points.
The EURUSD pair bearish while trading below the 1.1290 level, key technical support is found at the 1.1216 and 1.1215 levels.
If the EURUSD pair trades above the 1.1290 level, buyers may test back towards the 1.1315 and 1.1330 resistance levels.