The euro is currently capped below the 1.1200 level against the US dollar as Italian political woes continue to limit the pairs intraday upside. A clear range break is needed from the 1.1160 to 1.1248 level to provoke the next strong directional move in the pair. The EURUSD pair risks growing more technically bearish on an intraday basis while trading below the 1.1200 resistance level.
The EURUSD pair is strongly bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels.
If the EURUSD pair trades above the 1.1248 level, bulls may test towards the 1.1290 and 1.1323 levels.
