EURUSD Breaks Channel

The euro currency remains under pressure against the US dollar on the foreign exchange market as the pair falls to a fresh 2020 trading low. A bearish breakout from a falling price channel is currently underway, following the move below the 1.1890 level during the European trading session. The Momentum indicator shows that bearish pressure is building, placing the 1.1860 and 1.1800 levels as the next downside targets.

The EURUSD pair is only bullish while trading above the 1.1990 level, key resistance is found at the 1.2060 and 1.2100 levels.

EURUSD pair is only bearish while trading below the 1.1990 level, key support is found at the 1.1860 and 1.1800 levels.

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