The euro has reversed earlier gains against the greenback during the European trading session after US dollar strength returned this morning. The EUR/USD is testing the 1.1600 level once again, with a break below this key area likely to expose the pair to heavy intraday selling. Sellers will target the 1.1540 support region, while buyers will look to move the price back above the key 1.1650 level.
The EURUSD pair is strongly bearish while trading below the 1.1600 level, key support is found at the 1.1554 and 1.15400 levels.
If the EURUSD pair moves above the 1.1650 level, buyers may once again test towards the 1.1684 and 1.1700 resistance levels.
