The euro currency has breached the 1.2000 support level against the US dollar, following another meltdown in the US stock and bond market. The EURUSD pair is working within a falling price channel and could target the bottom of the channel, around the 1.1900 level. The four-hour time frame shows that February swing-low, around the 1.1950 level offers the strongest form of support prior to the 1.1900 level.
The EURUSD pair is only bullish while trading above the 1.2060 level, key resistance is found at the 1.2100 and 1.2130 levels.
EURUSD pair is only bearish while trading below the 1.2060 level, key support is found at the 1.1950 and 1.1900 levels.
