EURUSD neutral

The euro is attempting to recover above the 1.0800 level against the US dollar after setting a fresh multi-year low, at 1.0777, yesterday. The daily time frame shows that the EURUSD pair could fall towards the 1.0730 area before a major recovery starts to take hold. Buyers will be looking to close the week above the 1.0830 level to form a bullish reversal candle on the weekly time frame.

• The EURUSD pair is only bullish while trading above the 1.0830 level, key resistance is found at the 1.0880 and 1.0930 levels. 

• The EURUSD pair is bearish while trading below the 1.0830 level, key support is found at the 1.0777 and 1.0730 levels.