FURTHER EURUSD LOSSES EXPECTED BELOW 1.1800
The euro has moved to its lowest trading level against the US dollar since December 2017, hitting 1.1762, as fears over Italian politics caused the single currency to weaken. The EURUSD pair currently trades around the 1.1820 level, after finding technical resistance from the 1.1837 level earlier today. Traders continue to watch the latest developments coming out of Italy, while also looking for further technical selling below the 1.1800 level.
The EURUSD pair is strongly bearish while trading below the 1.1800 level, further downside towards the 1.1762 and 1.1711 levels seems possible.
If the EURUSD pair moves above the 1.1837 level, we may see a technical correction back towards the 1.1875 resistance level.