The euro currency faces a major test this week against the US dollar, following last weeks strong upside breakout above the 1.1100 resistance level. EURUSD bulls may look to buy a dip towards the 1.1060 level this week in anticipation of a rally towards the 1.1200 resistance level. A break under the 1.1060 level could see the EURUSD pair falling towards the 1.1020 support region.
The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1130 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0980 and 1.0950 levels.
