The euro is back under selling pressure against the US dollar on Monday, following Friday’s strong reversal lower from the 1.1470 level. Sellers now need to force price below the 1.1360 support level, in order to encourage further technical selling in the EURUSD pair. Failure to move price below key support may prompt a bullish recovery back towards the 1.1430 resistance level.
The EURUSD pair is bearish while trading below the 1.1400 level, key technical support is found at the 1.1360 and 1.1300 levels.
If the EURUSD pair trades above the 1.1400 level, buyers may test towards the 1.1430 and 1.1470 resistance levels.
