The euro currency has staged a major bearish breakout below the 1.0900 level against the US dollar, following the record increase in US weekly jobless claims. The 1.0840 level is the strongest form of technical support for the EURUSD pair below the 1.0900 level. If the EURUSD bounces from the 1.0840 level it could be a sign that the medium-term bulls are buying the pair at bargain levels.
The EURUSD pair is only bullish while trading above the 1.0980 level, key resistance is found at the 1.1060 and 1.1170 levels.
The EURUSD pair is bearish while trading below the 1.0980 level, key support is found at the 1.0840 and 1.0800 levels.
