The euro currency is drifting lower in early week trade against the US dollar, with the pair so far failing to attract a meaningful bid. The 1.1000 level is huge for the EURUSD this week, with bulls needing to step in from this key area to avoid a steep decline towards the 1.0930 area. Overall, watch out for a strong bullish counter-move to occur if the EURUSD pair starts to firm above the 1.1060 level.
• The EURUSD pair is only bearish while trading below the 1.1090 level, key support is found at the 1.1000 and 1.0980 levels. • The EURUSD pair is only bullish while trading above the 1.1090 level, key resistance is found at the 1.1110 and 1.1150 levels.