The euro remains well-supported on technical pullbacks against the US dollar, following a strong recovery from the 1.1050 level on Monday. The EURUSD pair could force a quick technical breakout towards the 1.1150 level if buyers break through the 1.1115 resistance area. Going forward, only sustained weakness under the 1.1050 support level can negate the bullish short-term outlook surrounding the pair.
The EURUSD pair is only bullish while trading above the 1.1075 level, key resistance is found at the 1.1115 and 1.1150 levels.
The EURUSD pair is only bearish while trading below the 1.1075 level, key support is found at the 1.1050 and 1.1020 levels.
