The euro is starting to retrace recent gains against the US dollar following renewed financial market fears about the Italian economy. Sustained weakness below the 1.1190 level will likely prompt a further technical test of the important 1.1165 support level. Overall, weaker than expected economic data coming from the United States economy is needed to boost the EURUSD pair higher.
The EURUSD pair is only bullish while trading above the 1.1190 level, key technical resistance is found at the 1.1235 and 1.1265 levels.
If the EURUSD pair trades below the 1.1190 level, key technical support is found at the 1.1165 and 1.1135 levels.
