The euro is correcting lower against the US dollar after the recent rally higher found strong technical resistance from the pairs 100-day moving average. Intraday buyers need to defend the important 1.1430 support level in order to keep short-term bullish momentum intact. A breach of the 1.1430 support level will likely provoke technical selling towards at least the 1.1410 level.
The EURUSD pair is strongly bullish while trading above the 1.1430 level, key technical resistance is found at the 1.1480 and 1.1550 levels.
If the EURUSD pair trades below the 1.1430 level, sellers are likely to test towards the 1.1410 and 1.1390 support levels.
