The euro has moved to a new 2020 trading high against the US dollar currency after buyers easily broke through the 1.1500 resistance barrier yesterday. The next major medium-term upside target for the EURUSD pair is located around the 1.1600 resistance zone. Overall, the EURUSD pair has a strong medium-term bullish bias while price trades above the 1.1475 support level.
The EURUSD pair is only bullish while trading above the 1.1470 level, key resistance is found at the 1.1550 and 1.1600 levels.
The EURUSD pair is only bearish while trading below the 1.1470 level, key support is found at the 1.1420 and 1.1400 levels.
