EURUSD rebound possible
The euro currency remains extremely weak against the US dollar, although key upcoming risk events could provide some relief for the EURUSD pair. The US dollar index currently has a double-top pattern forming, while US political risks this week could be EURUSD supportive. Overall, weakness under the 1.0900 level could prompt more losses, however, traders must be careful in case a strong bounce occurs.
The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0900 and 1.0850 levels.
The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1070 and 1.1110 levels.