The euro currency is under pressure against the US dollar, following last Friday’s much stronger than expected PMI manufacturing release from the US economy. If the EURUSD pair weakens under the 1.2160 level, then a further decline towards the 1.2100 level could take place. EURUSD swing traders may attempt to buy the pair around the 1.2130 to 1.2100 area in expectation of further upside.
EURUSD pair is only bearish while trading below the 1.2160 level, key support is found at the 1.2130 and 1.2100 levels.
The EURUSD pair is only bullish while trading above the 1.2160 level, key resistance is found at the 1.2200 and 1.2245 levels.
