EURO STILL BEARISH BELOW 1.1770
The euro continues to consolidate at lower levels against the U.S dollar, as traders remain cautious ahead of a number of key risk events this week. The EURUSD pair currently trades around the 1.1750 level, despite the Eurozone manufacturing PMI earlier beating expectations, with a solid 58.6 reading. Traders now await the release of U.S PMI Manufacturing and Services data, during the upcoming U.S session.
The EURUSD pair remains intraday bearish while trading below the key 1.1770 technical level. Further intraday declines remain likely towards the 1.1742 and 1.1724 levels. Extended intraday support for the euro is found at 1.1713 and 1.1685.
Should price-action move above the 1.1770 level, EURUSD buyers will likely target towards the 1.1780 and 1.1800 levels.