The euro is holding onto recent gains against the US dollar, with the pair appearing increasingly bullish over the short-term horizon. If the US dollar comes under pressure later today the EURUSD pair could easily move towards its near-term bullish target, around the 1.1160 level. Overall, traders are likely to buy the EURUSD pair in the short-term while price trades above the 1.0980 level.
The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels.
The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.