EURUSD losing momentum
The euro currency is losing upside momentum against the US dollar as buyers struggle to build on the previous months strong trading gains. The chances of a bearish reversal are increasing for the EURUSD pair, which places the 1.1100 support level back into focus. Going forward, a loss of the 1.1145 support level should confirm that sellers intend to take the EURUSD pair lower.
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 1.1145 and 1.1100 levels.