February 7, OctaFX – The euro currency continues to drift lower against the US dollar on Thursday, with the pair edging closer to important trendline support.
A sustained break below the 1.1360 level exposes the pair to further losses towards the 1.1300 level, which is a major technical level for the EURUSD. Buyers ultimately need to move price back above the 1.1410 level to negate short-term bearish pressures.
EURUSD Technical outlook
- The EURUSD pair is bearish while trading below the 1.1360 level, key technical support is found at the 1.1330 and 1.1300 levels.
- If the EURUSD pair holds above the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.
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