The euro currency has surged to a new monthly high against the US dollar after bulls quickly broke through the 1.1030 resistance barrier yesterday. Technical analysis shows that a bullish reversal pattern on the lower time frame is currently at work. A further breakout above the 1.1100 level exposes more upside in the EURUSD pair towards the 1.1110 and finally the 1.1130 level.
The EURUSD pair is only bullish while trading above the 1.0990 level, key resistance is found at the 1.1110 and 1.1130 levels.
The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0950 and 1.0930 levels.
