The euro currency has moved to a fresh weekly high against the US dollar, with the pair rallying towards the 1.1030 resistance area. EURUSD bulls now need to stabilize the pair above its key 200-day moving average, around the 1.1010 level, to encourage fresh technical buying. Traders should note that the bullish reversal pattern is in play across the lower time frames while price trades above the 1.0995 level.
The EURUSD pair is only bullish while trading above the 1.0950 level, key resistance is found at the 1.1030 and 1.1070 levels.
The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0935 and 1.0900 levels.