EURUSD 1.1060 remains key pivot

The euro currency remains under downside pressure against the US dollar as risk-off trading sentiment rises across financial markets increases. The EURUSD pair has a strong short-term bearish bias while price trades below the 1.1060 resistance level. A bearish head and shoulders pattern has been triggered and points to an upcoming decline in the EURUSD pair towards the 1.0950 support area.

• The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1100 and 1.1130 levels. 

• The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1020 and 1.0980 levels.