EURUSD still under pressure
The euro has remained under downside against the US dollar during the European trading session following weaker than expected EU inflation data releases. The EURUSD pair is moving closer to the neckline of a bearish head shoulders pattern, which is located at the 1.1216 support level. Technical indicators on the daily time frame are bearish and continue to signal further losses.
The EURUSD pair is heavily bearish while trading below the 1.1250 level, key technical support is found at the 1.1216 and 1.1170 levels.
If the EURUSD pair trades above the 1.1290 level, buyers may test back towards the 1.1315 and 1.1330 resistance levels.