The euro currency is still trapped around the 1.1000 level against the US dollar, with bulls repeatedly failing to move the pair away from key technical support. A strong recovery above the 1.1045 level would increase the chances of a potential bounce towards the 1.1120 resistance level. Traders should cautious toward extreme EURUSD sellers if a breakdown below the 1.0980 support level happens.
The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.1000 and 1.0980 levels.
The EURUSD pair is only bullish while trading above the 1.1045 level, key resistance is found at the 1.1065 and 1.1120 levels.