The euro has started to move lower against the US dollar after invalidating the bearish head and shoulders pattern on the four-hour time frame. EURUSD buyers need to move price above the 1.1265 level to regain the recent bullish short-term momentum. Sellers need to move price below the 1.1216 level to change the current intraday sentiment towards the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.1216 level, key technical resistance is found at the 1.1277 and 1.1300 levels.
If the EURUSD pair trades below 1.1216 level, key technical support is found at the 1.1190 and 1.1165 levels.
