EURUSD needs to bounce
The euro is holding towards the worst trading levels of the week against the US dollar in early Thursday trade after the pair fell through key support, at 1.1150, on Wednesday. The EURUSD pair now needs to bounce from the 1.1130 region or it risks further downside towards the 1.1110 level and possibly lower. Overall, bulls need to close the four-hour candle above the 1.1200 level to change the bearish short-term bias.
The EURUSD pair is heavily bearish while trading below the 1.1130 level, key technical support is now found at the 1.1110 and 1.1080 levels.
If the EURUSD pair trades above the 1.1165 level, key technical resistance is found at the 1.1182 and 1.1200 levels.