The euro currency has tumbled lower against the US dollar on Friday, following much weaker than expected PMI Manufacturing data from the German economy. If the EURUSD pair falls below the 1.1290 level traders should expect heavy technical selling to resume. The MACD indicator on the four-hour time frame is also signaling further intraday losses for the EURUSD pair.
The EURUSD pair is heavily bearish while trading below the 1.1290 level, key technical support is found at the 1.1237 and 1.1215 levels.
If the EURUSD pair trades above the 1.1360, buyers may test back towards the 1.1390 and 1.1410 resistance levels.
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