The euro currency has rallied to fresh multi-month trading high against the US dollar, with the pair reaching the 1.1225 resistance level. Bearish MACD price divergence on the lower time frames is warning of a possible drop in the EURUSD pair towards the 1.1150 level. Traders may also look to book short-term profits as the European Central Bank policy meeting approaches.
The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1225 and 1.1280 levels.
The EURUSD pair is only bearish while trading below the 1.1150 level, key support is found at the 1.1100 and 1.1060 levels.