The euro currency has fallen sharply lower against the US dollar, after buyers failed to move the pair above the key 1.2000 level on Monday. The EURUSD pair is currently trading around the 1.1915 level, and is under heavy selling pressure as the US dollar index starts to find buying interest again. Traders will now look for a break of the key 1.1900 support level, which would likely increase technical selling in the EURUSD pair.
The EURUSD pair is strongly bearish while trading above the 1.1900 level, further downside towards 1.1852 and 1.1822 seems possible.
If the EURUSD pair moves above the 1.1938 level, we may see a correction back towards the 1.1968 and 1.1995 resistance levels.
