The euro currency has moved to a fresh weekly high against the US dollar this morning, as traders turn increasingly bearish towards the greenback. Bulls need to break above the 1.1860 level to encourage a test of the current yearly high, just above the 1.1900 level. If the yearly high is broken, technical analysis shows that the EURUSD pair could rally towards the 1.2060 resistance area.
The EURUSD pair is only bullish while trading above the 1.1800 level, key resistance is found at the 1.1860 and 1.1910 levels.
The EURUSD pair is only bearish while trading below the 1.1800 level, key support is found at the 1.1760 and 1.1700 levels.