The euro currency is reaching an important turning point against the US dollar, with the pair likely to suffer a heavy sell-off if bulls fall to reclaim the 1.1900 level. Short-term bulls need to anchor price above the 1.1860 level this week to encourage a test of the 1.1900 level. To the downside, repeated rejection around the 1.1860 area could cause heavy technical selling towards the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1810 and 1.1790 levels.
The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1860 and 1.1900 levels.
