The euro is continuing to hold onto its recent gains against the US dollar, with the pair increasingly well-supported on technical corrections. With the breakout from the falling wedge pattern underway, the EURUSD pair could test towards the 1.1300 level over the medium-term. Overall, a breakout above the 1.1200 level should confirm the bull’s intention to test back towards the 1.1300 resistance level.
The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1200 and 1.1260 levels.
The EURUSD pair is only bearish while trading below the 1.1150 level, key support is found at the 1.1115 and 1.1090 levels.