The euro currency has failed to rally against the US dollar during the European trading session, further cementing the pairs bearish short-term outlook. Further intraday weakness for the EURUSD should be expected while price trades under the important 1.1130 level. Overall, weaker than expected inflation data from the US economy later today may be needed to boost the euro.
The EURUSD pair is heavily bearish while trading below the 1.1130 level, key technical support remains at the 1.1110 and 1.1080 levels.
If the EURUSD pair holds above the 1.1130 level, key technical resistance is found at the 1.1165 and 1.1182 levels.
