EURUSD weakness expected
The euro currency has started to trade lower against the US dollar, following the release of more weaker than expected eurozone manufacturing data. The EURUSD pair may start to target the 1.1110 level if sellers can hold price below the important 1.1130 level. A breakout under the 1.1110 level is likely to prompt a further technical test of the current yearly trading low.
The EURUSD pair is only bearish while below the 1.1165 level, key technical support is found at the 1.1130 and 1.1110 levels.
If the EURUSD pair moves above the 1.1165 level, key technical resistance is found at the 1.1190 and 1.1234 levels.