On the last Friday’s session, the EURUSD took a nosedive with a wide range and closed near the low of the day, in addition, managed to close below Thursday’s low, which suggests a strong bearish momentum.
The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a daily resistance at 1.2041, the 10-day moving average at 1.1762 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily resistance at 1.1753, a key level at 1.1684 (resistance) and a daily support at 1.1555.