The euro is trading lower against the US dollar on Monday, following a strong reversal from the 1.1200 resistance level on Friday. Going forward, EURUSD buyers now need to close the daily candle above the 1.1155 level to secure further medium-term gains. Overall, a breakout and weekly price close above the 1.1200 level this week should be considered extremely bullish for the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.1130 level, key resistance is found at the 1.1155 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1130 level, key support is found at the 1.1090 and 1.1060 levels.
