EURUSD Draghi speech up next
The euro has remained weak against the US dollar during the European trading session as market participants await another key speech from ECB President Mario Draghi later this afternoon. EURUSD bulls need to move price above the 1.1245 level, while sellers need to break the 1.1170 support level. Major weekly technical support is found at the 1.1150 level, which if broken could prompt an attack towards the 1.1100 level.
The EURUSD pair is heavily bearish while trading below the 1.1200 level, key technical support is found at the 1.1170 and 1.1150 levels.
If the EURUSD pair trades above the 1.1200 level, buyers may test the 1.1245 and 1.1290 levels.