EURUSD Further Losses Expected

The euro currency has fallen to a fresh multi-month low against the US dollar as the improving economic prospects of the US economy cause traders to buy the greenback. A bearish head and shoulders pattern continue to point to further losses towards 1.1860. To the upside, any moves back towards the 1.2000 area should be considered a potential selling opportunity.

The EURUSD pair is only bullish while trading above the 1.2010 level, key resistance is found at the 1.2030 and 1.2080 levels.

EURUSD pair is only bearish while trading below the 1.2010 level, key support is found at the 1.1900 and 1.1860 levels.