EURUSD 1.1030 insight

The euro bulls have been unable to defend the 1.1065 level against the US dollar, which has pushed the pair back towards the 1.1050 level. It is worth reiterating that the loss of the 1.1065 support level may trigger heavy selling in the EURUSD pair towards the 1.1030 or 1.1010 level. Overall, intraday strength in the US dollar index is a key factor behind weakness in the EURUSD.

• The EURUSD pair is only bearish while trading below the 1.1120 level, key support is found at the 1.1030 and 1.1010 levels.
• The EURUSD pair is only bullish while trading above the 1.1120 level, key resistance is found at the 1.1150 and 1.1170 levels.