The euro is trading back above the 1.1000 level against the US dollar after the pair bounced fairly sharply from the 1.0980 level on Friday. A daily price above the 1.1070 level is now needed to confirm that a major technical bottom is in place for the EURUSD. Looking at the downside potential, a daily price close under the 1.0990 level should encourage bears to target the 1.0945 level.
The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0980 and 1.0945 levels.
