The euro has surged higher against the US dollar during the European trading session, with bulls breaking above the 1.1400 resistance level. EURUSD buyers will likely target the 1.1470 resistance level, now that price has clearly broken out from the well-defined descending triangle pattern. The 1.1500 resistance level presents the strongest technical hurdle if the 1.1470 level is broken.
The EURUSD pair is strongly bullish while trading above the 1.1400 level, key technical resistance remains at the 1.1470 and 1.1500 levels.
If the EURUSD pair trades below the 1.1400 level, sellers are likely to test the 1.1345 and 1.1322 levels.
