The euro has risen to a fresh monthly high against the US dollar after the US dollar came under pressure following Federal Reserve Chair Jerome Powell’s testimony on Capitol Hill. The EURUSD pair has broken back inside the rising price channel on the four-hour time frame, with the 1.1400 level now key resistance. Traders should expect further intraday upside in the EURUSD pair while price continues to trade above the 1.1375 level.
The EURUSD pair is strongly bullish while trading above the 1.1375 level, key resistance is found at the 1.1400 and 1.1450 levels.
If the EURUSD pair trades below the 1.1375 level, key support is found at the 1.1360 and 1.1337 levels.
