Euro currency remains under pressure in the first half of the week, with EURUSD navigating the 1.1160 level ahead of the opening bell in the Old Continent.
14 August 2019, OctaFX – The euro has slumped back below the 1.1200 level against the US dollar following better than expected US data and renewed demand for the greenback.
EURUSD technical analysis
Weaker than expected EU data may prompt another technical test of the important 1.1160 support level. Overall, traders are growing more bullish towards the US dollar and the US economy now that Chinese trade tariffs have been pushed back.
The EURUSD pair is strongly bearish while trading below the 1.1160 level, key support is found at the 1.1145 and 1.1135 levels.
If the EURUSD pair trades above the 1.1225 level, bulls may test towards the 1.1248 and 1.1290 levels.
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