The euro currency remains under heavy selling pressure against the US dollar after falling to a fresh monthly-low in early Monday trading, hitting 1.1743. The EURUSD pair currently trades around the 1.1750 level, with downside pressures building as traders continue to buy the higher-yielding US dollar. Italian political and economic uncertainty and continued strength in the greenback remain the key drivers of the EURUSD.
The EURUSD should experience further selling below the 1.1750 level, key support is found at the 1.1711 and 1.1650 levels.
If the EURUSD pair holds above the 1.1750 level, buyers may test back towards the 1.1780 and 1.1800 resistance level.
