The euro has continued to gain strength above the 1.1000 level against the US dollar after bouncing from major long-term support. The daily time frame showed that the EURUSD pair bounced from trendline support from a falling price channel, just above the 1.0900 level. The 1.1050 level is the next major obstacle for the EURUSD, should bulls continue to rally the EURUSD pair.
If the EURUSD pair trades above the 1.1000 level, bulls may test back towards the 1.1050 and 1.1080 levels.
The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0960 and 1.0920 levels.
