The euro currency has staged a strong early week rally against the US dollar, as the greenback comes under selling pressure across the board. Technical analysis shows that EURUSD bulls could test towards the 1.1840 level if the pair performs a series of daily price closes above the 1.1790 level. To the downside, a sustained loss of the 1.1730 level should be considered extremely bearish for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1730 level, key support is found at the 1.1660 and 1.1610 levels.
The EURUSD pair is only bullish while trading above the 1.1730 level, key resistance is found at the 1.1790 and 1.1840 levels.
