The euro currency has moved lower against the US dollar during the European trading session, with the pair now trading below the 1.1060 level. Going forward, short-term dip-buyers are likely to target the EURUSD pair around the 1.1045 technical area. Overall, a strong upside recovery in the EURUSD pair towards the 1.1130 level remains the likely medium-term scenario.

The EURUSD pair is only bullish while trading above the 1.1070 level, key resistance is found at the 1.1100 and 1.1130 levels.

The EURUSD pair is only bearish while trading below the 1.1070 level, key support is found at the 1.1045 and 1.1020 levels.

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