The euro currency faces a pivotal trading week against the US dollar due to the upcoming ECB policy meeting and the pairs interesting technical position. EURUSD buyers need to force a breakout above the 1.1370 level to negate a bearish head and shoulders pattern. A failure below the 1.1260 support level could trigger major EURUSD weakness, with the 1.1150 level the bearish target.
The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is found at the 1.1370 and 1.1450 levels.
The EURUSD pair is only bearish while trading below the 1.1300 level, key support is found at the 1.1260 and 1.1150 levels.