The euro has opened the new trading-week around the key 1.1650 level against the US dollar, as traders await a breakout move in the greenback. Central bank action this week should provide the much needed directional catalyst for the EURUSD pair. Sellers will continue to target a strong break below the 1.1600 level, while buyers will try to move price above the 1.1724 resistance level.
The EURUSD pair remains bearish while trading below the 1.1650 level, key support is found at the 1.1600 and 1.1554 levels.
If the EURUSD pair trades above the 1.1650 level, buyers will likely target the 1.1680 and 1.1724 resistance levels.
