The key EURUSD pair found resistance today around the 1.3075 area with converging 50 and 200-day SMAs. We have highlighted this technical area of interest in our recent updates as a level to monitor. Price has now finally broken through the 1.3000 level after finding support on recent attempts to move lower. Euro/dollar is currently consolidating around the 1.2975 mark and a close under 1.3000 would add bearish pressure on the pair. We note that the longer term view has EURUSD trading under the weekly timeframe bearish engulfing candle. As previously noted, this gives a bearish bias as long as price holds under the ... (full story)