The euro currency is drifting lower in early week trade against the US dollar, with the pair so far failing to attract a meaningful bid. The 1.1000 level is huge for the EURUSD this week, with bulls needing to step in from this key area to avoid a steep decline towards the 1.0930 area. Overall, watch out for a strong bullish counter-move to occur if the EURUSD pair starts to firm above the 1.1060 level.
The EURUSD pair is only bearish while trading below the 1.1090 level, key support is found at the 1.1000 and 1.0980 levels.
The EURUSD pair is only bullish while trading above the 1.1090 level, key resistance is found at the 1.1110 and 1.1150 levels.
