The euro currency is having a strong start to the new trading month against the US dollar, with bulls testing towards the 1.1150 level. Technical analysis shows that the next strong up move towards the 1.1300 level could take place if the 1.1150 resistance level is broken. EURUSD dip-buyers may be waiting for a pullback towards the 1.1060 level to initiate fresh buy positions.
The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1150 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1020 and 1.0980 levels.