The euro currency is back under minor downside pressure against the US dollar after finding strong technical resistance just below the 1.1200 level. Going forward, the 1.1120 level is likely to act as a major intraday pivot point for the EURUSD pair. Weakness under the 1.1120 level could spark a major price retracement in the EURUSD pair towards the 1.0930 technical area.
The EURUSD pair is only bullish while trading above the 1.1120 level, key resistance is found at the 1.1170 and 1.1200 levels.
The EURUSD pair is bearish while trading below the 1.1120 level, key support is found at the 1.1020 and 1.0930 levels.
