EURUSD momentum lacking
The euro remains under downside pressure against the US dollar, although selling momentum is currently lacking below the 1.0980 level. The technicals are still very bearish for EURUSD pair, with a downside target of 1.0850 possible while price trades under the 1.0980 level. Bulls need to move price above the 1.1050 level to change the short-term picture, although it appears unlikely without a strong fundamental catalyst.
The EURUSD pair is bearish while trading below the 1.0980 level, key support is found at the 1.0925 and 1.0850 levels.
The EURUSD pair is only bullish while trading above the 1.1050 level, key resistance is found at the 1.1170 and 1.1110 levels.