The euro has continued to drift lower against the greenback during the European trading session, falling to a new 2018 price-low at 1.1921. Broad based intraday strength in the U.S dollar index has been the main drive behind the EURUSD sharp decline. The pair currently trades right around lows of the session, with sellers likely to attempt a further push-lower towards the 1.1910 support region during the upcoming U.S session. The release of U.S Jobs data, and the U.S dollar index’s next directional move will likely set the tone for remainder of Tuesday trading.
The EURUSD pair remains strongly bearish while trading below the key 1.1958 level, further losses towards 1.1910 and 1.1858 remain possible.
Should price-action recover above the 1.1958 level, upside resistance for the EURUSD pair is found at the 1.1989 and 1.2030 levels.
