EURUSD watching 1.1170
The euro has continued its recent retracement lower against the US dollar, with 1.1240 level confirmed as the near-term price ceiling. Weakness under the pivotal 1.1170 level could trigger additional selling in the EURUSD pair towards the 1.1100 support region. Multi-day price stabilization above the 1.1200 level should confirm that bulls intend to push the pair towards the 1.1300 area.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1240 and 1.1260 levels.
The EURUSD pair is only bearish while trading below the 1.1170 level, key support is found at the 1.1150 and 1.1100 levels.