The euro is trading below the key 1.1110 level against the US dollar, following more dovish commentary from outgoing ECB President Mario Draghi on Thursday. A sustained loss of the 1.1110 level may encourage sellers to push price back towards the 1.1044 level. Overall, the EURUSD pair could be a strong dip-buying opportunity if a deeper correction towards the 1.1044 area occurs.
The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1080 and 1.1044 levels.
The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.
