The euro currency is once again edging higher against the US dollar in early Monday as the technical recover from the current monthly low continues. The EURUSD faces an important week ahead as the trading range for the pair continues to narrow, pointing to a possible technical breakout. Bulls need to clearly break the 1.1310 resistance level, while sellers need to hold price under the 1.1200 level.
The EURUSD pair is only bullish while trading above the 1.1248 level, key technical resistance is found at the 1.1280 and 1.1310 levels.
If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1200 levels.