The euro has opened the new trading week strongly against the US dollar after the pair closed the week above its 200-day moving average. Bulls could target a major breakout above the 1.1400 level, with the 1.1440 and 1.1500 levels the major resistance areas to watch. If sellers move price back under the 1.1347 level the EURUSD pair could see a strong retrace back under the 1.1300 level.
The EURUSD pair is only bearish while trading below the 1.1347 level, key support is found at the 1.1321 and 1.1290 levels.
If the EURUSD pair trades above the 1.1347 level, key technical resistance is found at the 1.1400 and 1.1440 levels.
