The euro is trading below the key 1.1110 level against the US dollar, following more dovish commentary from outgoing ECB President Mario Draghi on Thursday. A sustained loss of the 1.1110 level may encourage sellers to push the price back towards the 1.1044 level. Overall, the EURUSD pair could be a strong dip-buying opportunity if a deeper correction towards the 1.1044 area occurs.
• The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1080 and 1.1044 levels.
• The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.
• The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1080 and 1.1044 levels.
• The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.
