EURUSD losing momentum
The euro currency is continuing to lose upside momentum against the US dollar, as the pair struggles to move past the 1.1150 resistance level. A breakout below the 1.1100 level exposes further losses towards the 1.1060 and possibly the 1.1020 level. EURUSD traders may also start to book profits due to the upcoming European Central Bank policy meeting on Thursday.
The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1150 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1020 and 1.0980 levels.