EUR/USD Bearish Pressure

The EUR/USD got as high as 1.1057 in today's trading but due to heavy pressure caused by the bears, the pair could't keep up with the gains and reacted to the 200SMA losing as much as 56 pips making a low of 1.1001.

Good news for the Euro bulls is that the pair reached major resistance for a second time in only three days but this time it pierced the 1.1045 level, indicating that the Euro might be getting ready for a bull run.

Currently, the pair is trading at 1.1015 but we still have important data scheduled throughout the week which will impact the price, keep an eye on 1.1045.

Chart: EUR/USD D1