EURUSD weakness persists
The euro has continued to decline against the US dollar during the European trading session as the greenback recovers early week losses. The EURUSD pair has a strong bearish outlook while trading below the 1.1216 level, with breakout weekly support located at the 1.1170 level. Only a sustained move above the 1.1250 level can negate the intraday bearish bias surrounding the EURUSD pair.
The EURUSD pair is heavily bearish while trading below the 1.1216 level, key technical support is found at the 1.1170 and 1.1130 levels.
If the EURUSD pair trades above the 1.1250 level, bulls may test back towards the 1.1290 and 1.1310 resistance levels.