The euro currency is testing towards the 1.2300 level against the US dollar, following a heavy technical rejection from the 1.2340 resistance zone. The recent Democrat party win in Georgia is seen as bearish for the US dollar so the EURUSD could still head higher. A breakout above the 1.2330 resistance level exposes the EURUSD pair to the further upside towards the 1.2400 level.
The EURUSD pair is only bullish while trading above the 1.2250 level, key resistance is found at the 1.2340 and 1.2400 levels.
The EURUSD pair is only bearish while trading below the 1.2250 level, key support is found at the 1.2200 and 1.2130 levels.
