EURUSD testing major support
The euro is testing towards critical technical support against the US dollar again, following a series of rejections from the 1.1200 resistance level. EURUSD sellers may target the 1.1060 level if they continue to gain traction below the pivotal 1.1100 level. Overall, a bearish head and shoulders pattern with 400 points of downside potential will be activated if price trades below the 1.1100 level.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1200 and 1.1230 levels.
The EURUSD pair is bearish while trading below the 1.1170 level, key support is found at the 1.1100 and 1.1060 levels.