EURUSD erodes gains
The euro has seen a major move lower against the US dollar, following a strong technical rejection from the 1.1160 level earlier today. A sustained move under the 1.1110 support level should be considered extremely bearish for the EURUSD pair. Overall, due to the change in tone from President Trump, the EURUSD pair is vulnerable to eroding all of its recent upside gains.
If the EURUSD pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1190 levels.
If the EURUSD pair trades below the 1.1130 level, sellers may test towards the 1.1100 and 1.1080 levels.