EURUSD WEAK AROUND 1.1800 LEVEL
The euro continues to trade to the downside against the US dollar, as investors remain concerned about the current Italian political and economic situation. The EURUSD pair currently trades around the 1.1800 level, after finding further technical selling from the 1.1830 resistance level. Euro traders continue to look for further losses below the 1.1800 level, as medium-term sellers retain firm control of the EURUSD pair.
The EURUSD remains strongly bearish while trading below the 1.1800 level, further losses towards the 1.1780 and 1.1762 levels may occur.
If the EURUSD pair holds above the 1.1800 level, we may see buyers move price back towards the 1.1837 and 1.1875 resistance level.