EURUSD more downside expected
The euro currency has remained under pressure against the US dollar during the European trading session, with the pair starting to hold below the 1.0900 level. A break below the 1.0780 level should see the EURUSD pair falling towards the 1.0700 support level. With the US dollar index rallying to multi-year highs traders are likely to sell any rallies in the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1060 and 1.1100 levels.
The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0770 and 1.0700 levels.