EURUSD 1.1260 breakdown support

The euro currency has slumped to a fresh weekly trading low against the US dollar after the pair broke through the 1.1280 support barrier. Sustained losses below the 1.1260 level may trigger the next heavy EURUSD sell-off towards at least the 1.1235 support zone. Worse than expected US retail sales data later today may help to send the US dollar index lower and give the EURUSD a boost back towards the 1.1300 level.

• The EURUSD pair is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1235 levels.

• If the EURUSD pair trades above the 1.1300 level, buyers may test the 1.1321 and 1.1347 levels.