The euro currency has rallied sharply higher against the US dollar, following hawkish comments from the ECB President during Thursday’s policy meeting. Technical analysis shows that the EURUSD pair has the potential to rally towards the 1.1400 level. Lower time frame analysis indicates that short-term EURUSD bulls are in control while price trades above the 1.1150 level.
The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1400 and 1.1500 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.
