EURUSD Decline accelerates
The euro currency has continued its descent against the US dollar after bulls failed to hold price above the technically important 1.1750 level. Technical analysis shows that the EURUSD pair has broken below a broadening wedge pattern on the daily time frame. Overall, declines towards the 1.1500 price region is likely while the EURUSD pair fails to recover above the 1.1750 level.
The EURUSD pair is only bearish while trading below the 1.1750 level, key support is found at the 1.1680 and 1.1500 levels.
The EURUSD pair is only bullish while trading above the 1.1750 level, key resistance is found at the 1.1770 and 1.1840 levels.