The euro currency appears primed for a major directional move against the US dollar currency, following another strong test of the pivotal 1.1230 level. A sustained loss of the 1.1230 support level could see the EURUSD pair declining back towards the 1.1150 level over the short-term. Technical analysis shows that a bearish head and shoulders pattern is warning of a potential decline towards the 1.1000 level.
The EURUSD pair is only bullish while trading above the 1.1230 level, key resistance is found at the 1.1270 and 1.1290 levels.
The EURUSD pair is only bearish while trading below the 1.1230 level, key support is found at the 1.1155 and 1.1100 levels.
