EUR/USD has lost its recovery momentum after meeting resistance at 1.1330. As long as it stays below that level, sellers are likely to continue to dominate the pair's action, FXStreet’s Eren Sengezer reports.

Sellers eye 1.1270 as euro stays below key resistance

“On the downside, 1.1270 (static level) aligns as the next target ahead of 1.1250 (static level) and 1.1230 (static level).”

“In case EUR/USD rises above 1.1330 and starts using it as support, it could extend its rebound to 1.1350 (100-period SMA, the Fibonacci 61.8% retracement of the latest uptrend).”