The euro is back under downside pressure against the greenback, with the pair once again trading well below the 1.1300 level. Further downside in the EURUSD pair towards the 1.1237 level now seems increasingly likely while price trades below the 1.1275 level. European Central Bank President Mario Draghi’s speech will set the tone for the single currency during the European trading session.
The EURUSD pair bearish while trading below the 1.1275 level, key technical support is found at the 1.1237 and 1.1175 levels.
If the EURUSD pair trades above the 1.1275 level, buyers may test back towards the 1.1290 and 1.1330 resistance levels.
