The euro has reversed sharply from the 1.0880 technical regions against the US dollar, following the release of weak EU economic data. Continued weakness below the pivotal 1.0780 level should be considered extremely bearish for the EURUSD pair. Bulls need to form a new daily higher high above the 1.0880 level to encourage technical buying towards the 1.1000 level.
The EURUSD pair is only bullish while trading above the 1.0780 level, key resistance is found at the 1.0880 and 1.1000 levels.
The EURUSD pair is bearish while trading below the 1.0780 level, key support is found at the 1.0700 and 1.0650 levels.
