The euro currency is testing towards critical weekly support against the US dollar, as the greenback attempts to strengthen after yesterday’s heavy sell-off. Technical analysis shows that the EURUSD pair could rally towards the 1.1890 level if the bulls can continue to defend the 1.1840 level. If EURUSD bulls can hold price above the 1.1890 area then a rally towards the 1.1940 level is also possible.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1760 and 1.1720 levels.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1890 and 1.1940 levels.
