The euro currency is testing towards the former weekly trading low against the US dollar, after another major technical rejection from the 1.1400 level. Weaker than expected macroeconomic data from the German and Italian economies are also pressuring the EURUSD pair lower. Sellers will attempt to break the 1.1340 support level, while buyers need to breach the 1.1431 resistance level.
The EURUSD pair is strongly bearish while trading below the 1.1380 level, key support is found at the 1.1340 and 1.1300 levels.
If the EURUSD pair trades above the 1.1380 level, key resistance is now found at the 1.1400 and 1.1431 levels.
