The euro currency remains depressed against the US dollar as the pair struggles to stage a meaningful rebound from the 1.1800 support level. At present levels the EURUSD pair is currently oncourse for its lowest weekly price close since late-March this year. The next 50 points directional move should take place once the EURUSD pair breaks the 1.1770 to 1.1845 price range.
EURUSD pair is only bearish while trading below the 1.1845 level, key support is found at the 1.1770 and 1.1720 levels.
The EURUSD pair is only bullish while trading above the 1.1845 level, key resistance is found at the 1.1870 and 1.1900 levels.
