EURUSD struggling for direction
The euro has struggled to find direction against the US dollar during the European trading session as bulls and bears battle for short-term control of the pair. The weekly bias towards the EURUSD pair still remains bearish while price trades below the 1.1280 level. Overall, the head and shoulders pattern on the four-hour time frame is also adding to negative sentiment surrounding the EURUSD.
The EURUSD pair is intraday bearish while trading below the 1.1250 level, key technical support remains at the 1.1230 and 1.1216 levels.
If the EURUSD pair trades above 1.1250 level, key intraday resistance is found at the 1.1280 and 1.1300 levels.