The euro currency has staged a powerful counter-rally against the US dollar after buyers stepped in from the 1.1540 support area yesterday. Technical analysis shows that the EURUSD pair may test towards the 1.1640 to 1.1650 resistance zone before a pullback commences. EURUSD buyers may be looking to close the weekly candle above the 1.1600 level to encourage technical buyers next week.
The EURUSD pair is only bearish while trading below the 1.1540 level, key support is found at the 1.1510 and 1.1470 levels.
The EURUSD pair is only bullish while trading above the 1.1540 level, key resistance is found at the 1.1640 and 1.1700 levels.
