EURUSD opening under pressure

The euro has opened the new trading week under pressure against the US dollar following another bearish price close on Friday. The EURUSD pair is likely to come under further technical selling pressure while trading below the important 1.1216 support level. Only a move above the 1.1250 resistance level can negate the bearish weekly sentiment towards the EURUSD pair.

The EURUSD pair is heavily bearish while trading below the 1.1216 level, key technical support remains at the 1.1170 and 1.1130 levels.

If the EURUSD pair trades above the 1.1250 level, buyers may test back towards the 1.1290 and 1.1330 resistance levels.