The euro has moved below the pivotal 1.1145 level against the US dollar, placing the focus on emphasis on further short-term selling. If an interim high is in place, the bearish correction in the EURUSD pair could extend losses towards the 1.1044 support level. A sustained break below the 1.1110 support level should confirm that the EURUSD pair can start to trade much lower this week.
• The EURUSD pair is bearish while trading below the 1.1145 level, key support is found at the 1.1110 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1145 level, key resistance is found at the 1.1180 and 1.1220 levels.