The euro currency performed a bearish weekly price close against the US dollar last week, after finding strong resistance from the 1.1400 area. Any rallies back towards the 1.1300 resistance level this week are expected to be met with strong technical selling. If a sustained breakout under the 1.1240 support levels occurs the EURUSD pair could tumble towards the 1.1150 area.
The EURUSD pair is only bullish while trading above the 1.1240 level, key resistance is found at the 1.1300 and 1.1400 levels.
The EURUSD pair is only bearish while trading below the 1.1240 level, key support is found at the 1.1180 and 1.1150 levels.
