EURUSD under pressure
The euro currency is starting to come under heavy downside pressure against the greenback and is now trading comfortably below the 1.1300 level. More policy action from the ECB later today could see the EURUSD pair testing the 1.1170 support level. Only sustained gains above the 1.1350 resistance level will encourage short and medium-term traders to buy the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.1350 level, key resistance is found at the 1.1500 and 1.1600 levels.
The EURUSD pair is bearish while trading below the 1.1350 level, key support is found at the 1.1170 and 1.1100 levels.