currency remains under downside pressure against the US dollar
, following a dovish speech from ECB President Mario Draghi. The EURUSD
pair is currently probing the 1.1400 level, a sustained loss of this key area is likely to encourage technical sellers to test the 1.1360 level. If bears fail to break the 1.1400 level, a relief rally back towards the 1.1460 level remains possible.
pair is strongly bearish
while trading below the 1.1400 level, key technical support is found at the 1.1360 and 1.1300 levels.
If the EURUSD
pair recovers from the 1.1400 level, buyers may test towards the 1.1460 and 1.1486 resistance levels.