EURUSD 1.1110 now key

The euro currency has slipped into the red for the trading week against the US dollar, following a heavy rejection from the 1.1160 level. Bears have the upperhand while price trades under the 1.1110 level, leaving the EURUSD pair exposed to further losses. Overall, bulls need to maintain price above the 1.1130 level, or the EURUSD pair could slip back towards the 1.1050 level.

If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1160 levels.
If the EURUSD pair trades below the 1.1110 level, sellers may test towards the 1.1080 and 1.1050 levels.