EURUSD TRADING BACK UNDER KEY SUPPORT
The euro is now trading below the key 1.1431 level against the US dollar, following a strong technical rejection from the 1.1500 resistance level. The EURUSD pair is intraday bearish while trading above the 1.1431 level and could form a bearish head and shoulders pattern if the decline continues. Buyers need to move price back above the 1.1452 level to stabilize the EURUSD.
The EURUSD pair is intraday bearish while trading below the 1.1431 level, key support is found at the 1.1387 and 1.1352 levels.
If the EURUSD pair moves above the 1.1431 level, buyers are likely to test towards the 1.1452 and 1.1500 resistance levels.