EURUSD 1.1216 daily pivot
The euro currency remains weak against the US dollar on Wednesday with the pair now trading around neckline support, at 1.1216. If the weekly decline continues to gathers pace, the 1.1170 level still offers the strongest form of technical support prior to the 1.1100 level. Technical indicators across the four-hour time frame are now starting to move higher and could correct into Friday’s US jobs report.
The EURUSD pair is heavily bearish while trading below the 1.1216 level, key technical support is found at the 1.1170 and 1.1100 levels.
If the EURUSD pair trades above the 1.1216 level, bulls may test back towards the 1.1230 and 1.1250 resistance levels.