currency has fallen back towards the 1.1100 level against the US dollar
after crashing below the 1.1130 support level
on Thursday. The euro
is extremely bearish
while trading below the 1.1100 level and now risks falling back towards its current yearly low. Bulls will be looking for a double-bottom formation, however, the fundamentals behind the EURUSD
pair is heavily bearish
while trading below the 1.1130 level, key support is found at the 1.1130 and 1.1100 levels.
If the EURUSD
pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1200 levels.