The euro currency has continued to tumble lower against the greenback during the European trading session, with today’s strong intraday decline extending to the 1.1612 level. The EURUSD pair has come under heavy selling pressure as the U.S. Dollar Index moves to a fresh monthly trading-high. Sellers will try to break the 1.1600 level, while buyers will try to stabilize price back above the 1.1650 level.
The EURUSD pair is strongly bearish while trading below the 1.1650 level, key support is now found at the 1.1600 and 1.1540 levels.
If the EURUSD pair moves above the 1.1650 level, key technical resistance is located at the 1.1674 and 1.1691 levels.
