The common currency slipped to fresh lows on Thursday. The declines came amid a rebound in the US dollar boosted by strong economic data. In contrast, the eurozone economy is still struggling, adding to the downside. The common currency has been falling for the third consecutive session.
Can the EURUSD Fall Further?
The currency pair is trading close to a multi-year support line near the 1.1120 region. The intraday charts signal a potential rebound in price. However, the currency needs to break past 1.1140 in order to confirm the upside. The next main target to the upside comes in at 1.1226 where resistance could be established.
