EURUSD needs to bounce
The euro currency has started the new week trading week under pressure against the US dollar, with price trading around the 1.0800 level. Bulls need to hold price above the 1.0775 level this week to avoid a strong decline towards the current yearly low. Failure to create a new monthly trading low could result in the EURUSD pair staging a strong recovery towards the 1.0980 level.
The EURUSD pair is only bullish while trading above the 1.0980 level, key resistance is found at the 1.1060 and 1.1170 levels.
The EURUSD pair is bearish while trading below the 1.0980 level, key support is found at the 1.0775 and 1.0710 levels.