EURUSD under pressure
The euro currency remains under pressure against the US dollar currency after the recent German court ruling on the ECB QE package. EURUSD short-term bears are now in control, following the break under the technically important 1.0880 support level. The risk for the EURUSD is now to the downside, with sellers likely to target the 1.0770 level if the 1.0800 support level is breached.
The EURUSD pair is only bullish while trading above the 1.0880 level, key resistance is found at the 1.0990 and 1.1070 levels.
The EURUSD pair is only bearish while trading below the 1.0880 level. Key support is found at the 1.0800 and 1.0770 levels.