The euro currency is holding critical technical support against the US dollar, following numerous failed attempts to break the 1.1800 support zone. Short-term technical analysis shows that if the EURUSD can move price above the 1.1840 level then a rally towards the 1.1940 level is possible. To the downside, a loss of the 1.1790 area could expose the EURUSD pair too heavy technical selling.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1760 and 1.1710 levels.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1840 and 1.1940 levels.
