EURUSD KEY TEST
The euro currency has fallen sharply against the US dollar during the European trading session after bulls failed to hold the pair above the 1.1300 level. Sellers are now moving for a key test of critical weekly technical support, around the 1.1240 level. Traders should note that losses below the 1.1240 level exposes the EURUSD pair to further selling towards the 1.1150 area.
The EURUSD pair is only bullish while trading above the 1.1240 level, key resistance is found at the 1.1300 and 1.1380 levels.
The EURUSD pair is only bearish while trading below the 1.1240 level, key support is found at the 1.1190 and 1.1150 levels.