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The common currency is staring at losses after prices failed to hold on to the technical support near 1.1715. The declines came on the back of the ECB meeting.

With the support level breached, the 1.1600 level of support comes into focus next.

Any near term rebound in the EURUSD will see price stalling back near the 1.1715 level.

The current pace of declines will push the euro down to September 25 lows.

To the upside, only a strong breakout above the 1.1715 handle will see any signs of further short term gains.

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