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EURUSD Recovery Underway

The euro currency is starting to recover against the US dollar after the bounce performed a strong technical bounce from the 1.1730 area. EURUSD bulls need to anchor the pair above the 1.1840 level to encourage a major recovery towards the 1.1900 level. To the downside, daily price closes below the 1.1750 level are currently required to increase technical selling pressure towards the EURUSD pair.

The EURUSD pair is only bearish while trading below the 1.1780 level, key support is found at the 1.1750 and 1.1730 levels.

The EURUSD pair is only bullish while trading above the 1.1780 level, key resistance is found at the 1.1880 and 1.1915 levels.

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