The euro currency has recovered higher against the US dollar currency, following a quick drop below the 1.1800 support level yesterday. A breakout above the 1.1840 level could cause the EURUSD pair to rally towards the 1.1800, and possibly the 1.1900 level. To the downside, a sustained breakout under the 1.1780 level could cause a major decline in the EURUSD pair towards the 1.1685 level.
The EURUSD pair is only bearish while trading below the 1.1780 level, key support is found at the 1.1730 and 1.1685 levels.
The EURUSD pair is only bullish while trading above the 1.1780 level, key resistance is found at the 1.1840 and 1.1880 levels.
