The euro is attempting to build upside momentum against the US dollar after sellers failed to hold the pair under the 1.1050 support level. Daily price closes above the 1.1075 level should signal that short-term EURUSD bulls intend to test back towards the 1.1110 level. Overall, the daily time frame shows that the 1.1200 level offers extended resistance if a rally above the 1.1110 level occurs.
The EURUSD pair is only bullish while trading above the 1.1075 level, key resistance is found at the 1.1110 and 1.1120 levels.
The EURUSD pair is only bearish while trading below the 1.1075 level, key support is found at the 1.1050 and 1.1020 levels.
