The euro currency remains under downside pressure against the US dollar, after closing the former trading week well below the 1.1700 level as the greenback firmed across the board. The EUR/USD pair has moved back above the 1.1700 technical level, amidst quiet Bank Holiday trading conditions. Euro traders remain focused on the economic and political situation in Italy, and intraday movements in the US dollar index.
The EURUSD pair remains strongly bearish while trading below the 1.1717 level. Key support technical support is now found at the 1.1675 and 1.1645 levels.
Should the EURUSD pair move above the 1.1700 level, we may see a near-term technical correction back towards the 1.1750 and 1.1800 levels.
