EURUSD 1.1135 upcoming support

The euro has continued to weaken against the US dollar during the European trading session, with the pair falling to a fresh weekly trading low. Sellers are now approaching the 1.1135 support level, although major breakout support is located at the 1.1110 level. The four-hour time frame is also showing that the EURUSD pair may be creating a large head and shoulders pattern.

• The EURUSD pair is heavily bearish while below the 1.1165 level, key technical support is found at the 1.1110 and 1.1060 levels.

• If the EURUSD pair moves above the 1.1165 level, key technical resistance is found at the 1.1190 and 1.1234 levels.