The euro has started the new trading week with a strong upside bias against the US dollar, following the recent bullish weekly price close the pair. Technical analysis shows that the EURUSD pair may test towards the 1.1960 to 1.1980 resistance area if price holds above the 1.1890 area. A sustained break above the mentioned resistance could prompt further gains towards the 1.2200 area.
The EURUSD pair is only bearish while trading below the 1.1890 level, key support is found at the 1.1850 and 1.1780 levels.
The EURUSD pair is only bullish while trading above the 1.1890 level, key resistance is found at the 1.1960 and 1.1980 levels.
