EURUSD 1.0630 in focus
The euro has continued to weaken against the US dollar during the European trading session as the pair moves closer to the 1.0700 support level. The EURUSD pair could start to test towards the current 2020 trading low, around the 1.0630 level, if the 1.0700 level is broken. Bulls need to stage a rally back above the 1.0840 resistance level to negate the strong short-term bearish bias.
The EURUSD pair is only bullish while trading above the 1.0840 level, key resistance is found at the 1.0890 and 1.0940 level.
The EURUSD pair is only bearish while trading below the 1.0840 level. Key support is found at the 1.0700 and 1.0630 levels.