The euro is advancing towards the 1.1250 level against the US dollar as risk-on trading sentiment is causing investors to sell the greenback. If bulls can move price above the 1.1250 resistance level the EURUSD pair could advance towards the 1.1290 level. Technical indicators on the four-hour time frame are also suggesting that the current technical correction can head higher.
The EURUSD pair is only intraday bearish while trading below the 1.1216 level, key technical support remains at the 1.1170 and 1.1100 levels.
If the EURUSD pair trades above the 1.1250 level, bulls may test back towards the 1.1290 and 1.1330 resistance levels.
