EURUSD new low ahead of ECB
The euro currency has fallen to fresh monthly trading low against the US dollar during the European trading session, following more soft economic data from the German economy. If EURUSD sellers can break the 1.1107 level, the pair could easily fall towards the 1.1050 support level. Overall, only a move above the 1.1240 level can change the extremely bearish sentiment towards the EURUSD.
The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1107 and 1.1050 levels.
If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1200 and 1.1240 levels.