The euro currency is becoming increasingly bullish against the US dollar in the short-term, as the pair continues to hold price above key technical support. EURUSD dip-buying is now preferenced as bulls attempt to force price above the 1.1238 resistance barrier. Overall, the EURUSD pair is only technically bearish on an intraday basis while trading below the 1.1187 support level.
The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1170 and 1.1138 levels.
If the EURUSD pair trades above the 1.1187 level, bulls may test towards the 1.1238 and 1.1280 levels.
