EURUSD more downside possible
The euro currency remains vulnerable to further losses against the US dollar this week while trading below the 1.1170 resistance level. Going forward, a loss of the 1.1100 support level could trigger more downside in the EURUSD pair towards the 1.1080 support region. Overall, traders may be looking to buy the EURUSD pair from a more attractive price if a deeper correction occurs.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1200 and 1.1240 levels.
The EURUSD pair is bearish while trading below the 1.1170 level, key support is found at the 1.1125 and 1.1080 levels.