EUR/USD Prices remain under pressure after breaking 1.1070

Prices remain under pressure after breaking 1.1070 channel support. Focus now turns to the more important 1.0980 pivot support region, as a break there will suggest the gains from last year’s 1.0880 lows is merely another correction and may be re-test that support area at some stage. Otherwise, we need to see a recovery through 1.1075-1.1110 resistance to alleviate the downside pressure and take us back to an upper range.