The euro has moved back above the pivotal 1.1050 level against the US dollar, further highlighting the bullish short-term sentiment towards the pair. The EURUSD pair could soon test back towards the 1.1090 level now that the bid-tone has returned. Overall, the EURUSD pair is likely to advance towards the 1.1160 level if buyers can break through the 1.1110 resistance 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.