The euro currency is trading sharply higher against the US dollar in early Wednesday trade, following the results of the US mid-term elections. The EURUSD pair is strongly bullish while trading above the 1.1431 level, with traders now watching the inverted head and shoulders pattern across the four-hour time frame. Despite the bullish break higher, the EURUSD pair still faces key risk-events from EU Retail Sales and the FOMC policy meeting later this week.
The EURUSD pair is bullish while trading above the 1.1431 level, key support is found at the 1.1410 and 1.1387 levels.
If the EURUSD pair moves above the 1.1470 level, buyers are likely to test towards the 1.1500 and 1.1553 resistance levels.
