The euro currency remains under heavy technical selling pressure against the US dollar after the price was strongly rejected from the 1.1600 level on Wednesday. The EURUSD pair has moved back towards critical weekly support around the 1.1554 level, as bearish short and medium-term selling pressure continues to build. Sellers will try to break the 1.1510 level, while buyers will attempt to move the price back above the 1.1600 resistance level.
The EURUSD pair is strongly bearish while trading below the 1.1554 level, key technical support is now located at the 1.1510 and 1.1480 levels.
If the EURUSD pair moves above the 1.1600 level, key technical resistance can be found at the 1.1610 and 1.1644 levels.
