The euro currency is starting to gain upside traction against the US dollar after bulls managed to recover price back above the 1.1900 level. Technical analysis highlights that a breakout above the 1.1940 resistance level could send the EURUSD pair towards the 1.2000 area. To the downside, a weekly price close below the 1.1890 level should be considered technically bearish for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1890 level, key support is found at the 1.1860 and 1.1840 levels.
The EURUSD pair is only bullish while trading above the 1.1890 level, key resistance is found at the 1.1940 and 1.2000 levels.
