The euro is holding around the 1.1100 level against the US dollar, with the pair currently struggling to rally away from key support. Any upcoming moves towards the 1.1080 support level should prove a major short-term technical test for the EURUSD pair. The risk for EURUSD bulls is that a loss of the 1.1080 support level could see the pair dropping back towards the 1.0980 level before resuming higher.
The EURUSD pair is only bullish while trading above the 1.1145 level, key resistance is found at the 1.1170 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1145 level, key support is found at the 1.1100 and 1.1080 levels.
