The euro is trading well above the 1.1200 support level against the US dollar after briefly spiking towards the 1.1250 level during Thursday’s US trading session. EURUSD buyers need to move price back above the 1.1250 level or they risk losing bullish trading momentum. Sellers will take back short-term control of the EURUSD pair if price starts to once again trade under the 1.1190 level.
The EURUSD pair is only bullish while trading above the 1.1190 level, key technical resistance is found at the 1.1250 and 1.1264 levels.
If the EURUSD pair moves below the 1.1216 level, key technical support remains at the 1.1190 and 1.1164 levels.
