EURUSD STILL BEARISH BELOW 1.1650
The euro currency is weakening back towards the 1.1600 level against the US dollar on Tuesday, as the greenback firms across the board. The EURUSD pair retains its intraday bearish bias while trading below the 1.1650 level, as it represents the neckline of a bearish head and shoulders pattern. Traders now look to eurozone PPI data and the ISM Manufacturing survey from the US economy.
The EURUSD pair remains intraday bearish while trading below the 1.1650 level, key technical support is found at the 1.1553 and 1.1500 levels.
If the EURUSD buyers move price above the 1.1650 level, further upside towards the 1.1681 and 1.1713 resistance levels remains possible.