EURUSD Big Rejection

The euro currency is under slight pressure against the US dollar, after suffering a big technical rejection from just under the 1.2150 price area yesterday. Sustained weakness under the 1.2100 level will be a strong indication that the EURUSD pair is about to towards the 1.2000 price zone. Dip-buyers may be lurking around the 1.2000 level as the overall price trend in the EURUSD pair is still bullish.

EURUSD pair is only bearish while trading below the 1.2150 level, key support is found at the 1.2100 and 1.2000 levels. The EURUSD pair is only bullish while trading above the 1.2100 level, key resistance is found at the 1.2190 and 1.2220 levels.

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