February 14, OctaFX – The euro has fallen to fresh monthly trading low against the greenback after the eurozone economy posted much weaker than expected data and the US dollar reversed direction.
EURUSD Technical Analysis
The EURUSD pair is heavily bearish while trading below the 1.1260 level and may soon challenge its multi-year trading low, around the 1.1215 level. Traders now await the release of key eurozone GDP this morning, with a weaker than expected figure likely to put further downward pressure on the euro.
- The EURUSD pair is heavily bearish while trading below the 1.1260 level, key technical support is found at the 1.1215 and 1.1180 levels.
- If the EURUSD pair holds above the 1.1260 level, buyers may test towards the 1.1280 and 1.1310 resistance levels.
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