The euro currency continues to slide against the US dollar on Tuesday, with the pair now testing towards the psychological 1.2000 level. A break under the 1.2000 level is likely to provoke a further sell-off in the EURUSD pair towards the 1.1860 support zone. Traders should note that a large head and shoulders pattern has been activated and is warning of a coming drop towards the 1.1700 level.
The EURUSD pair is only bullish while trading above the 1.2060 level, key resistance is found at the 1.2100 and 1.2130 levels.
EURUSD pair is only bearish while trading below the 1.2060 level, key support is found at the 1.1950 and 1.1860 levels.