EURUSD analysis – Euro heavily bearish below 1.1160

24 July 2019, OctaFX – The euro currency has turned heavily bearish over the medium-term against the US dollar after breaking through the 1.1160 support level on Tuesday.

EURUSD technical analysis

Continued weakness below the 1.1160 level may prompt a test of the 1.1110 support level during today’s European trading session. Market participants are now waiting for the release of PMI Manufacturing data from the eurozone.

  • The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1110 and 1.1050 levels. 

  • If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1180 and 1.1200 levels.

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