EURUSD currency pair kept decreasing this week , and the technical bias is bearish in the recent uptrend.
The pair experienced a vibration between 1.20980 and 1.20615, and multiple resistance levels can be seen above, which may prevent the price from rebounding further.
- Resistance level 1: 1.20980
- Resistance level 2: 1.21355
- Resistance level 3: 1.21725
Below the price, multiple support levels can be found, which may prevent the price from falling.
- Support level 1: 1.20615
- Support level 2: 1.20320
- Support level 3: 1.19930
The United States will announce the Core Retail Sale data on Friday. Higher data will be favorable for the US dollar, and indicate negative for the currency pair, and vice versa.
Looking at the current price trends and economic development, selling the EURUSD currency pair near the current level may be a good trading choice.