EURUSD Settles at a Four-Week Low

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The euro currency continues to remain sold with price falling for five consecutive daily sessions.

At the current pace of declines, the common currency is on track to drop to the September 28, 29 lows of 1.1611. This also coincides close to the 1.1600 level of support.

Establishing support at this level could offer some short term respite for the euro from posting further declines.

This could keep prices trading within the 1.1800 and 1.1600 levels in the near term.

The volatility in the US dollar, marked by the election uncertainty could however see the EURUSD trading a bit erratic.

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