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The common currency is trading volatile, largely thanks to the volatility in the US dollar.

Prices whipsawed around but overall, the EURUSD is holding the sideways range between 1.1715 and 1.1600 levels.

Earlier in the day, prices briefly slipped close to the 1.1600 level.

However, once again there was a quick rejection of prices pushing the euro higher and back to the 1.1715 level once again. This potentially suggests that the 1.1600 level could be a strong support level to break.

However, if the downside is breached, the euro could be looking to set new record lows in recent history.

To the upside, the 1.1800 level is likely to stall the rally.

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