EURUSD Loses 1.1800 Technical Support

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The euro is trading weaker as the dollar is rising once again.

As a result, the common currency lost the technical support at 1.1800.

Price action is posting steep declines and it looks like the 1.1715 will be next technical support to be tested.

As long as price holds above this level, we expect the upside bias to remain intact, albeit the momentum is losing steam.

However, things could change if the euro loses the 1.1715 support. This will eventually see the euro falling toward the 1.1600 handle next.

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