EURO STILL BEARISH BELOW 1.2382 LEVEL
The euro remains under pressure against the U.S dollar, as weaker than expected EU inflation data, and a strong technical rejection from the key 1.2382 level weigh on intraday sentiment. The EURUSD pair currently trades around the 1.2360 level, after finding interim technical support from the 1.2341 level during the European trading session. Traders now look towards the next directional move in the U.S dollar index, and the release of the Federal Reserve Beige Book.
The EURUSD pair is intraday bearish while trading below the 1.2382 level, weekly support is found at the 1.2300 and 1.2275 levels.
Should the EURUSD pair start to trade above the 1.2382 resistance level, buyers may test the 1.2413 and 1.2430 levels.