The euro currency remains under downside pressure against the US dollar after bears finally broke through the important 1.1240 support level. Sustained weakness below the 1.1240 support area could see the EURUSD failing towards the 1.1150 area. EURUSD bulls need to move price above the 1.1240 level to encourage another technical test of the 1.1300 resistance level.
The EURUSD pair is only bullish while trading above the 1.1240 level, key resistance is found at the 1.1300 and 1.1350 levels.
The EURUSD pair is only bearish while trading below the 1.1240 level, key support is found at the 1.1150 and 1.1080 levels.
