The euro currency has moved back towards the 1.1100 level against the US dollar as traders move into the safety of the greenback. The decline in the EURUSD pair towards the 1.1100 level was expected and could easily extend down towards the 1.1080 level before reversing. Overall, buying dips under the 1.1100 level is still a solid short-term strategy for short-term EURUSD bulls.
The EURUSD pair is only bullish while trading above the 1.1145 level, key resistance is found at the 1.1170 and 1.1200 levels.
The EURUSD pair is bearish while trading below the 1.1145 level, key support is found at the 1.1100 and 1.1080 levels.
