EURO BEARISH WHILE TRADING BELOW 1.1644 LEVEL
The euro continues to remain under selling pressure against the U.S dollar, despite rallying to 1.1658 during late Monday trading. The EURUSD pair currently trades around the 1.1630 level, as traders await a raft of high-impact economic data coming out from the eurozone today. During the European trading session, we see the release of key Eurozone Inflation, Gross Domestic Product and Unemployment figures for the month of October.
The EURUSD sellers retain intraday control of the pair while price-action trades below the 1.1644 technical level. Further declines while below this key level can be expected towards the 1.1610 and 1.1580 support zones.
Should intraday EURUSD move price-action above the 1.1644 level for a sustained period, further bullish advancement can be expected towards the 1.1680 and 1.1713 resistance points.