The euro currency continues to trade on the back foot against the US dollar, following Friday’s sharp technical reversal below the pivotal 1.1490 level. The 1.1460 level is the major support area to watch today, with a move below this level likely to trigger further losses towards at least the 1.1430 level. It is also worth noting that the EURUSD pair performed a bearish weekly price close below its 100-day moving average last week.
The EURUSD pair is strongly bearish while trading below the 1.1460 level, key technical support is found at the 1.1430 and 1.1400 levels.
If the EURUSD pair moves above the 1.1490 level, buyers may test towards the 1.1530 and 1.1550 resistance levels.
