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.