The euro currency has weakened considerably against the US dollar on Friday, with the price falling back towards the 1.1500 support level after the greenback found strong buying demand. The recent corrective-move towards the 1.1600 level appears over and further intraday weakness seems likely while the EURUSD pair trades below the 1.1553 level. The MACD indicator on the daily time frame also suggests further downside appears likely.
The EURUSD pair is intraday bearish while trading below the 1.1553 level, key support is now found at the 1.1507 and 1.1430 levels.
If the EURUSD pair moves above the 1.1553 level key resistance is found at the 1.1580 and 1.1600 levels.
