The euro currency has moved back towards critical resistance against the US dollar as traders continue to buy any meaningful dips in the pair. Lower time frame analysis shows that gains above the 1.1380 level could cause the EURUSD pair to surge towards the 1.1500 level. Traders should note that a huge bullish reversal pattern will form on the higher time frames if the price reaches the 1.1500 level.
The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is found at the 1.1380 and 1.1500 levels.
The EURUSD pair is only bearish while trading below the 1.1300 level, key support is found at the 1.1240 and 1.1150 levels.
