The euro currency has moved away from the psychological 1.1000 level against the US dollar, placing the emphasis on the 1.1045 technical region. Going forward, a sustained move above the 1.1060 level would confirm that a second important technical bottom is now in place. The 1.1180 level remains the overall upside objective for the EURUSD pair over the medium-term horizon.
The EURUSD pair is only bullish while trading above the 1.1046 level, key resistance is found at the 1.1060 and 1.1100 levels.
The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.1020 and 1.1000 levels.
