The EUR/USD continues to slowly slip away from the most recent highs. In part, the fall has been to a strong USD which has gone from strength the strength. However, the Italian economy has also started to cause a fair few issues for the shared currency.

We are seeing some significant gains in the Greenback being made on the back of the rising Treasury yields. Yesterday, bond markets cooled down a touch and that caused the USD to fall away.

Looking at the major levels, 1.1800 to the upside has so much resistance that I feel we might really struggle to get through there any time soon.

In the short-term, if we take out the 1.1500 level (hold below today), then we are really opening things up for a fall into the swing lows at 1.1300.

Given where we are trading today, 1.1500 is clearly a big level in play today.

Support –  1.1460, 1.1400, 1.1300

Resistance – 1.1500, 1.1550, 1.1738, 1.1800