EURUSD key levels to watch

The euro remains under constant downside pressure against the US dollar on Thursday as expectations remain high that the ECB will announce the timing of the next QE package. The key EURUSD downside levels to watch are the 1.1107 and 1.1050 levels. To the upside, a sustained move above the 1.1160 level could prompt a rally towards the 1.1200 level, although the 1.1240 level is the key upside resistance level.

The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1107 and 1.1050 levels.
If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1200 and 1.1240 levels.