During yesterday's rally, the dollar appreciation resumed and the pair started a downward movement again. The dollar index again approached 97.00 showing the strength of the reserve currency.
The euro, on the contrary, is trying to reduce the ECB’s efforts and the pair continues to approach four-month lows.
Technical indicators point to a sale and we believe that the pair will be able to overcome the level of 1.1270 and go lower.
We believe that the next support levels for the pair will be 1.1210 and 1.1180.
Therefore, we advise you to take short positions in the pair and consider the above positions as your goals, given that these are strong levels formed in 2017 and we can expect bearish resistance on them.
