EURUSD BEARISH BELOW 1.1870 LEVEL
The euro currency has fallen to a fresh monthly trading-low against the US dollar, hitting 1.1815, as the greenback gained broadly on Tuesday. The EURUSD pair currently trades around the 1.1830 level, and remains under heavy selling pressure after yesterday’s bearish move below the key 1.1900 level. Traders continue to look for EURUSD weakness below the key 1.1800 level, as they await the release of key eurozone Inflation data.
The EURUSD pair is medium-term bearish while trading below the 1.1870 level, further losses towards 1.1815 and 1.1770 seems possible.
If the EURUSD pair moves above the 1.1870 level, we may see a correction back towards the 1.1900 and 1.1937 resistance levels.