EURUSD UNDER PRESSURE BELOW 1.1599 LEVEL
The euro has dropped to a new weekly trading low against the US dollar, as German political uncertainty resurfaced and the US dollar index soared back above the key 95.00 level.
The EURUSD pair has so far found interim technical support around the 1.1540 level, with the MACD indicator across the four hour time frame pointing to further downside.
Traders now look to key eurozone Inflation data and the 2018 trading high on the US dollar index.
The EURUSD pair is strongly bearish while trading below the 1.1599 level, key intraday support is located at the 1.1540 and 1.1507 levels.
If EURUSD buyers move price back above the 1.1599 level, price could correct back towards the 1.1644 and 1.1674 levels.
The EURUSD pair has so far found interim technical support around the 1.1540 level, with the MACD indicator across the four hour time frame pointing to further downside.
Traders now look to key eurozone Inflation data and the 2018 trading high on the US dollar index.
The EURUSD pair is strongly bearish while trading below the 1.1599 level, key intraday support is located at the 1.1540 and 1.1507 levels.
If EURUSD buyers move price back above the 1.1599 level, price could correct back towards the 1.1644 and 1.1674 levels.
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