On yesterday session, the EURUSD initially rallied but found enough selling pressure to rub out all of its initial gains and closed near the low of the day, furthermore the currency pair managed to close below Friday’s low, which suggests a strong bearish momentum.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: daily resistance 1.2041, a Key level at 1.1880 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, the 10-day moving average at 1.1735 (support), the 50-day moving average at 1.1731 (support) and a key level at 1.1684 (support).
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